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Netflix Falls After Pandemic Boom Reverses to Rare Weakness


Netflix Falls After Pandemic Boom Reverses to Rare Weakness
Bloomberg
5 hrs ago
Lucas Shaw
(Bloomberg) Netflix Inc. credited the pandemic with delivering record growth in 2020. Now it’s blaming the pandemic for the worst first quarter in eight years.
The streaming service added far fewer new customers than Wall Street expected in the first three months of 2021, even missing its own forecast by millions of subscribers. And the current quarter will be more challenging, Netflix said Tuesday, predicting a gain of just 1 million new customers or a fraction of the 4.44 million projected by analysts.
The dismal growth sent Netflix shares down as much as 8.4% in New York trading on Wednesday. They were off 7.5% to $508.24 at 9:57 a.m. ....

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Netflix Plunges After Pandemic Boom Shudders to Near-Ha...


The streaming service added far fewer new customers than Wall Street expected in the first three months of 2021, even missing its own forecast by millions of subscribers. And the current quarter will be more challenging, Netflix said Tuesday, predicting a gain of just 1 million new customers or a fraction of the 4.44 million projected by analysts. The dismal growth sent its shares plunging as much as 13%.
Netflix has been warning for months that growth would slow after customers emerged from their Covid-19 hibernation, but few expected the company to stall so dramatically. The first quarter of 2020 was the strongest in its history, reeling in 15.8 million new customers, and Netflix’s pace was still brisk in the fourth quarter. ....

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After pandemic-boom, Netflix logs worst 1st quarter in eight years


Netflix Inc. credited the pandemic with delivering record growth in 2020. Now it’s blaming the pandemic for the worst first quarter in eight years.
The streaming service added far fewer new customers than Wall Street expected in the first three months of 2021, even missing its own forecast by millions of subscribers. And the current quarter will be more challenging, Netflix said Tuesday, predicting a gain of just 1 million new customers or a fraction of the 4.44 million projected by analysts.
Netflix has been warning for months that growth would slow after customers emerged from their Covid-19 hibernation, but few expected the company to stall so dramatically. The first quarter of 2020 was the strongest in its history, reeling in 15.8 million new customers, and Netflix’s pace was still brisk in the fourth quarter. ....

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