Netflix loses $40 billion after Russia exit ...News

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Netflix loses $40 billion after Russia exit
The suspension of service in the country has led to the loss of 700,000 subscribers American streaming service Netflix has seen a massive loss of $40 billion in market capitalization after the company reported its first customer decline in more than a decade. The company said the number of subscribers in its first quarter dropped by 200,000, falling well short of its forecast of adding 2.5 million subscribers. The suspension of service in Russia over the Ukraine conflict led to the loss of 700,000 users. The abrupt shift in fortune for the streaming platform comes after months of success during strict pandemic-rel

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