Netflix Misses Its Subscriber Forecast

Date : 01/21/2020 @ 9:44PM
Source : Dow Jones News
Stock : Netflix Inc (NFLX)
Quote : 380.07  -5.93 (-1.54%) @ 1:00AM
After Hours
Last Trade
Last $ 380.65 ▲ 0.58 (0.15%)

Netflix Misses Its Subscriber Forecast

Netflix (NASDAQ:NFLX)
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2 Months : From Dec 2019 to Feb 2020

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By Micah Maidenberg and Joe Flint 

Netflix Inc. missed its forecast for subscriber growth in the U.S., a performance that comes as the streaming giant faces heightened competition from a gaggle of rivals.

Netflix said Tuesday that it added 423,000 domestic subscribers in the fourth quarter compared with the third quarter. In October, the company based in Los Gatos, Calif., had forecast an increase of 600,000 subscribers in the U.S. for the latest period.

But the company also reported an increase of 8.3 million subscribers in markets overseas, more than the seven million the company was expecting.

Shares of Netflix were down in after-hours trading Tuesday.

Netflix's weaker-than-expected domestic growth comes as it faces rising pressure from rivals that have launched competing services and are chasing creative talent in Hollywood.

Write to Micah Maidenberg at micah.maidenberg@wsj.com and Joe Flint at joe.flint@wsj.com

 

(END) Dow Jones Newswires

January 21, 2020 16:29 ET (21:29 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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