Netflix subscribers fall for first time in a decade, shares plunge 24% ...Middle East

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Netflix subscribers fall for first time in a decade, shares plunge 24%
source : Devdiscourse ( Middle East ) () 22
Global streaming giant Netflix Inc on Tuesday reported losing subscribers for the first time in more than a decade and predicted more contraction in the second quarter, a rare miss for a company that has been a reliable growth engine for investors. Netflix lost 200,000 subscribers in its first quarter, falling well short of its modest predictions that it would add 2.5 million subscribers. Its decision in early March to suspend service in Russia after it invaded Ukraine resulted in the loss of 700,000 members. The company's stock plunged 24% in after-market trading. Netflix's poor results pummeled other video streaming-related stocks, with Roku dropping over 6%, Walt Disney falling almost 4%

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