Netflix shares sink after earnings report
Netflix delayed the broad rollout of its password-sharing crackdown, which was originally planned for the first quarter.
The streaming giant's earnings topped Wall Street's estimates, while revenue came in slightly below them.Reed Hastings, co-CEO of Netflix, participates in the Milken Institute Global Conference on October 18, 2021 in Beverly Hills, California.shares fell Tuesday after the streaming giant posted earnings and said it was pushing back its broad rollout of its password-sharing crackdown.
Originally, Netflix said the rollout would take place late in the first quarter, but on Tuesday it said it would do it in the second quarter. "While this means that some of the expected membership growth and revenue benefit will fall in Q3 rather than Q2, we believe this will result in a better outcome from both our members and our business," the company said in its earnings release.
The company said it saw its subscriber growth impacted in the international markets where it has already rolled out such initiatives.Earnings per share:On Tuesday, Netflix said goodbye to what got it started — its DVD mailing business, in which it would send out the discs in red envelopes to customers. The company's CEO Ted Sarandos said in a blog post that it would finally wind down the DVD business, which "continues to shrink.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
‘Love Is Blind’ Live Reunion Experiences Delays on NetflixLoveIsBlind goes live -- or does it? Netflix is displaying an error message for viewers attempting to tune into the series' reunion special, which was slated to stream live Sunday evening.
Weiterlesen »
Tesla, Netflix earnings and Apple’s India debut top week aheadEarnings from Tesla, Netflix and a slew of regional banks top the week ahead as well as Apple's big push into India.
Weiterlesen »
Netflix's live 'Love Is Blind' reunion show delayed by technical glitchAn embarrassing glitch delayed Netflix's highly anticipated "Love Is Blind" live reunion show Sunday night, leaving many fans frustrated.
Weiterlesen »
Why Is the 'Love Is Blind' Live Reunion Delayed on Netflix?Fans tuned in for the live reunion special on Sunday, April 16, only to get issues with their livestreams.
Weiterlesen »
Netflix’s ‘Love Is Blind’ Live Reunion Special Experiences DelayAn onscreen message tells viewers: 'We're having trouble playing this title right now. Please try again later or select a different title.'
Weiterlesen »