Netflix's stock tumbled 2% Thursday after an influential Wall Street analyst warned the video-streaming service will come up short more than 2 million of global new subscribers for its fourth quarter, and miss in the following quarter.
Netflix Inc.’s stock tumbled 2% Thursday after an influential Wall Street analyst warned the video-streaming service will come up short more than 2 million of global new subscribers for its fourth quarter, and miss in the following quarter.
Analysts polled by FactSet estimate the net addition of 8.6 million subscribers for the fourth quarter, and 7.25 million for the first quarter. By any measure, JPMorgan’s projected growth represents a significant falloff for Netflix, which added 8.5 million new subscribers in the same quarter a year ago and had anticipated a bump in additions to 8.5 million as a result of a slew of new content. “We’re in uncharted territory,” Netflix co-CEO Reed Hastings said on the company’s post-earnings video interview in October.
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