Netflix reports first subscriber loss in 10 years ...Middle East

The Hill - Technology
Netflix reports first subscriber loss in 10 years
source : The Hill ( Middle East ) () 22
Netflix reported its first subscriber loss in more than ten years on Tuesday, causing its shares to fall more than 20 percent. The streaming giant reported a drop of 200,000 subscribers during the first quarter of 2022. The company last reported a loss in subscribers in October 2011, according to Reuters. The company's stock saw a 23 percent dive in after-market trading, which erased $30 billion in market value, the outlet noted. Netflix had previously told shareholders it expected an additional 2.5 million net subscribers during the first quarter of 2022. In a letter to shareholders, the streaming service said it expects the drop in subscriptions to continue and forecasted a

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