Netflix reported 208 million global subscribers as of the end of the first quarter, missing its own prediction for 210 million.The streaming giant did beat financial targets, though with earnings per share of $3.75 a dollar ahead of Wall Street analysts’ expectations.
Revenue of $7.16 billion also topped the Street.The subscriber shortfall, which caused the stock to drop 11% in aftert-hours trading, was blamed on issues related to the coronavirus pandemic. “We believe paid membership growth slowed due to the big Covid-19 pull forward in 2020 and a lighter content slate in the first half of this year, due to Covid-19 production delays,” the company said in its letter to shareholders. “We continue to anticipate a strong second half with the
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