Netflix, which distributes original content as “House of Cards” with movies and TV shows, he reported that added only 1.7 million subscribers in the quarter ended in June .
Netflix said it expects to add 300,000 subscribers in the US in the current quarter.
(Reuters) .- Netflix Inc said that incorporated fewer subscribers to its video service expected between April and June because customers canceled the service before the price increase, and the company’s stock tumbled 16%.
the company also forecast Monday an increase in the number of retail subscribers projected this quarter in both the US and internationally.
“we are growing, but not as fast as we would like or have done “the company said in its quarterly shareholder letter.
Netflix, which distributes original content as” Orange is the New Black “and” House of Cards “with movies and TV shows, said added 1.7 million subscribers in the quarter ended in June, compared with the average expert estimates 2.5 million.
the company said it expects to add 300,000 subscribers in the US in the current quarter and 2 million in markets outside the United States. Analysts had expected 774,000 and 2.85 million respectively, according to research firm Market FactSet StreetAccount.
Netflix reported earnings per share of 9 cents, beating by 2 cents the forecast of analysts polled by Thomson Reuters I / B / E / S.
total revenues for the video service internet amounted to 1,970 million in the second quarter, compared with 1.480 billion a year ago.
Netflix shares fell to $ 84.40 in after-hours operations, after closing the regular session at $ 98.81.
Faced with a slowdown in the US, Netflix has launched its service in almost all countries in the world. In his letter to investors he said it continues to evaluate options to start operations in China, but added that “unfortunately this year the regulatory climate in China for our service has become more challenging.”
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