Netflix Inc added fewer new customers than Wall Street expected in the first quarter and offered a forecast below analyst estimates for the next three months as it delayed a broader launch of its password-sharing crackdown.
Smartphone with Netflix logo is seen in front of a stock graph in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/Illustrationadded fewer new customers than Wall Street expected in the first quarter and offered a forecast below analyst estimates for the next three months as it delayed a broader launch of its password-sharing crackdown.
From January through March, Netflix added 1.75 million streaming subscribers, missing analyst estimates of 2.06 million additions. For April through June, the company forecast $8.242 billion in revenue and $2.86 in diluted EPS. Wall Street had been projecting $8.476 billion for revenue and $3.05 for diluted EPS.
Netflix added nearly 9 million subscribers in 2022, half as many as the 18 million gained in the prior year, with much of that growth coming from Asia, notes research firm MoffettNathanson. The gains it made in Asia and Latin America have impacted the average revenue per user, spurring Netflix to make changes to its business model, the firm said.
In its quarterly letter to shareholders, Netflix said it was "pleased" with the launch of its paid sharing effort and planned a broad rollout this quarter, including in the United States.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Netflix shares plunge as subscriber numbers miss Wall Street estimatesNetflix shares plunged 7% in after-hours trading.
Consulte Mais informação »
Here are Monday's biggest analyst calls: Tesla, Netflix, Zoom, Biogen, Okta, Amazon, HP Inc. & moreAnalyst call of the day for CNBCPro subscribers: Morgan Stanley reiterates Tesla as overweight heading into earnings later this week. Subscribe to see the analyst calls of the day curated by CNBC Pro.
Consulte Mais informação »
House Speaker Kevin McCarthy on Wall Street to deliver speech to New York Stock ExchangeHouse Speaker Kevin McCarthy will address the state of the economy and is expected to outline how Republicans plan to raise the debt ceiling for a year.
Consulte Mais informação »
Fiscal crisis nears as McCarthy takes debt ceiling plan to Wall StreetThe House speaker is set to outline the party’s new proposal at the New York Stock Exchange, more than a decade after a similar GOP-led standoff hammered U.S. markets
Consulte Mais informação »
House Speaker McCarthy opens next phase of debt ceiling fight with direct pitch to Wall StreetPresident Joe Biden has not budged on his refusal to negotiate with House Republicans over the debt limit.
Consulte Mais informação »