Netflix drops dud on Wall Street as subscriber growth flops

Earnings per share: 85 cents.

The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. Second-quarter revenue was $3.91 billion, which was slightly lower than the $3.94 billion predicted by analysts. The company called its performance in the second quarter "strong but not stellar".

Membership in the quarter grew 5.2 million to a total of 130m, matching the same period a year ago but a million shy of what Netflix forecast, according to a letter released along with earnings figures.

However, GBH Insights saw the Netflix subscriber forecast miss as a "speed bump", rather than start a downward trend, reasoning that the "content arms race continues to be a major tailwind" for the company.

Revenue for the quarter came in at $3.91 billion, lower than the $3.94 billion analyst estimate.

Politics of IN senate race could be impacted by supreme court nominee
The Gallup Poll was conducted between July 2nd and July 8th with a 3 percent margin of error. Nearly two-thirds of Americans believe that the landmark Roe v.

Netflix added 670,000 subscribers in the United States, well below analysts' estimates of 1.19 million, according to Thomson Reuters I/B/E/S. That's compared with analyst estimates that Netflix would have Q3 net adds of 947,000 in the USA and 5.05 million internationally. Earlier this month, it debuted its first Indian original series, "Sacred Games", part of a slate of new shows aimed at the vast Bollywood entertainment market. While most of the company's revenue growth comes from global markets, the vast majority of its costs remain dollar-denominated.

Netflix has already been battling challenges from Amazon, Google's YouTube and Hulu in the video streaming market, and it is likely to face even stiffer competition as other formidable rivals try to muscle into the market.

Netflix said Monday that it expects more competition, but dismissed any potential negative impact on its business.

Apple, the world's most valuable company, is spending about $1bn on original programming for a video service of its own. And AT&T Inc has promised to boost investment in HBO after taking over the network in its recent acquisition of Time Warner.

Meanwhile, cable distributors are offering smaller and cheaper bundles of channels. "Our strategy is to simply keep improving, as we've been doing every year, " the company said.

Related news:

Hot News

isis-killer-beheading-video-story-top 'Amazon Prime Day 2018' is today
Jul 17, 2018 - 10:08
During this sale, the Amazon Echo Dot will receive a 45 per cent discount, and will be available for flash sale from 3 pm today. The estimate is based on's tracking of Amazon Prime Day deals since the shopping holiday started in 2015.

isis-killer-beheading-video-story-top Hawaii volcano: Lava bomb crashes through roof of tour boat, injuring 23
Jul 17, 2018 - 05:52
The remaining 9 passengers drove themselves to the hospital, and the Fire Department reported their injuries were not as serious. The lava punctured the boat's roof and it returned to Wailoa Harbor, the fire department said.

isis-killer-beheading-video-story-top Economic growth in China falls as USA trade battle threatens further slowdown
Jul 17, 2018 - 05:43
China disputes the US allegation, saying last week , "The tariffs are typical unilateralism, protectionism and trade bullying". The dispute has jolted global financial markets, raising worries a full-scale trade war could derail the world economy.

isis-killer-beheading-video-story-top US Charges Russian Woman With Conspiracy to Infiltrate American Organizations
Jul 17, 2018 - 05:18
Court papers unsealed, July 16, 2018, photographed in Washington, shows part of the criminal complaint against Maria Butina . She made her initial court appearance Monday afternoon, and was ordered held pending a hearing set for Wednesday.

isis-killer-beheading-video-story-top A Champ At 19, France's Kylian Mbappe Is Beyond Compare
Jul 17, 2018 - 05:18
For a country that relies on tourism - a group of footballers are not only lifting a country's moral but also its economy. The French prodigy has also been tailed by Real Madrid, who recently rebuffed links with him in an official statement.

isis-killer-beheading-video-story-top Put pressure on Iran, Trump urges Putin at historic summit
Jul 17, 2018 - 04:43
Trump said the two countries had not been getting along in the past and that there existed "great opportunities" to change that. He nodded along to some of Trump's remarks before they were translated, showcasing his fluency in English.

isis-killer-beheading-video-story-top Trump, Putin sit down a bit late for closely watched summit
Jul 17, 2018 - 03:57
Putin is regarded as creating a culture of violence and impunity that has resulted in the killing of some Russian journalists. He nodded along to some of Trump's remarks before they were translated, showcasing his fluency in English.

isis-killer-beheading-video-story-top Grabill man arrested in 1988 slaying of April Marie Tinsley | Police/Fire
Jul 17, 2018 - 00:07
I been watching you", he wrote in one of the notes, according to information obtained from the Federal Bureau of Investigation . One of Tinsleys shoes was found 1,000 feet from where she was located, according to court documents. "Hi honey.

isis-killer-beheading-video-story-top Donald Trump was 12 minutes late to tea with the Queen
Jul 16, 2018 - 23:34
Trump claimed to have discussed Brexit with The Queen , and said she was a "beautiful woman - inside and out". The Trumps entered the castle's Quadrangle by Range Rover after arriving on the castle grounds by helicopter.

isis-killer-beheading-video-story-top Kylian Mbappe transfer: Real Madrid 'confident' of signing France and PSG superstar
Jul 16, 2018 - 20:22
Italian champions Juventus have agreed to pay Real Madrid 100 million euros ($117 million) for Cristiano Ronaldo . CR7 arrived to the Juventus medical facility near Turin, Italy on Monday. ready to work.

isis-killer-beheading-video-story-top Netflix releases first look at Olivia Colman as Queen Elizabeth II
Jul 16, 2018 - 19:42
The Crown Season 3 will be like nothing we've seen before. "Someone has to bring their own fatigue to it". She follows Claire Foy and will star in seasons three and and four of the big budget drama.

isis-killer-beheading-video-story-top Trump calls the European Union, Russia, and China 'foes' of the US
Jul 16, 2018 - 18:42
Trump said on Twitter as he left for Helsinki on Sunday that he was "looking forward to meeting with President Putin". But after being given the idea by his interviewer, Trump said, "Certainly I'll be asking about it".

isis-killer-beheading-video-story-top Weymouth shaken after police officer and resident were both shot and killed
Jul 16, 2018 - 17:22
Sunday, and died from the injures at a hospital. "He is expected to be arraigned Monday on two counts of homicide". Chesna was shot in the chest and head and taken to South Shore Hospital where he was later pronounced dead.

isis-killer-beheading-video-story-top Here's what you get with an Amazon Prime subscription
Jul 16, 2018 - 16:23
Other two smartphones said to be available on discount during Amazon Prime Day sale are already selling at their lowest price. Alternatively, you can get one month of Prime for $13 and enjoy Prime Day that way instead of paying $119 for a whole year.

isis-killer-beheading-video-story-top Barack Obama arrives in Kenya to help launch sister's sports center
Jul 16, 2018 - 16:21
The former U.S. president arrived at his grandmother's home a few minutes after 10am and was received by family members. Former US President Barack Obama's stopped off in Kenya ahead of his visit to South Africa for Madiba's centenary.