Netflix's stock plunged 12% in after hours trading after the company missed the forecast for new subscribers
New York Netflix has passed the 150 million subscribers mark, but the streaming giant missed the forecast for new memberships.
The company added 2.7 million new subscribers in the second quarter of 2019, according to its latest earnings report released Wednesday. That is just over half of 5 million new subscribers that analysts were expecting. Netflix now has 151.5 million subscribers globally.The service said it expects to add another 7 million subscribers in the next quarter.Profit in the second quarter of 2019 fell to $271 million from $384 million in the first quarter of last year. Revenue went up 26% to $4.
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