Netflix fell slightly short of its U.S. subscriber forecast in the third quarter — and projected lower Q4 subscriber growth than Wall Street was expecting as competition looms from Apple and …
fell slightly short of its U.S. subscriber forecast in the third quarter — and projected lower Q4 subscriber growth than Wall Street was expecting as competition looms from Apple and Disney. Still, the company reported solid gains and handily topped analyst forecasts for profit.
The company posted operating margin of 18.7%, beating its prior guidance, “due to timing of content and marketing spend, which will be more weighted to Q4’19,” the company said. For Q4, Netflix is forecasting 7.6 million global paid net adds, with 600,000 in the U.S. and 7.0 million for the international segment. Analysts had been pegging Netflix to add as many as 9.3 million net new paid subscribers .
In recent months, Netflix investors have fretted about looming competition from major new competitors in the streaming space. Next month will see the debut of Disney Plus and Apple TV Plus — both of which undercut Netflix’s pricing, but will have far smaller content offerings out of the gate. Set to launch in early 2020 are WarnerMedia’s HBO Max and NBCU’s Peacock.
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