Thursday, October 15, 2015

Netflix Profits Slide 50% as Streaming Growth Lags - The New York Times

Not a great Netflix season for managing expectations; also see Netflix Blames Chip-Based Credit Cards for U.S. Growth Shortfall (BloombergBusiness)
"Netflix has hit a bump in the road on its quest to reach 60 million to 90 million subscribers in the United States and, by the end of 2016, become fully global.

The company said on Wednesday that third-quarter profit tumbled 50 percent compared with last year, missing its forecasts as it reported worse-than-expected streaming growth in the United States.

Netflix said it added 3.62 million total streaming members during the quarter, as it continued its aggressive global expansion and investment in original programming. That brings the total number of paid streaming members to 66.02 million, up from the 50.65 million during the same period of 2014."
Netflix Profits Slide 50% as Streaming Growth Lags - The New York Times
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