Jul 18 2018
Shares of Netflix plunged more than 13% Monday after the streaming giant reported second-quarter subscriber growth that missed Wall Street expectations.
Netflix said it added just 670,000 subscribers in the USA for the period ending in June, about half of its own projection of 1.2 million.
Membership in the quarter grew 5.2 million to a total o 130 million, matching the same period past year but a million shy of what Netflix forecast, according to a letter released along with earnings figures. Currency had a +$65 million impact on worldwide revenue year over year (+13% global ASP growth on a FX neutral basis), but this positive impact was smaller than we had forecast 90 days ago as the U.S. dollar strengthened meaningfully against many currencies since our Q1'18 earnings report in April.
"The quarter is a reminder that Netflix's cadence of net adds is not linear, but lumpy in nature", said Justin Patterson, an analyst with Raymond James and Associates in San Francisco, while pointing to the absence of a new hit series as a driver.
"Simply stated, we don't see any potential for Netflix to deliver operating leverage on its content investment until the company is able to create a sufficient quantity of high-quality owned original programming to allow it to grow its content spending more slowly", Pachter said in a report.
Netflix's outlook for the current quarter also reflected a deceleration: The world's largest paid online TV network expects to add 5 million customers, a slower pace than a year earlier.
A World Cup final to decide the Ballon d'Or?
It really didn't matter in the end that the Chelsea forward wasn't able to find the goal as France won the World Cup anyway. The result [of the match] will show if we did everything right....
Trump has no clue how North Atlantic Treaty Organisation funding works
And I think you can have no doubt, Mr President, that this is an investment in common American and European defence and security. The hint of USA withdrawal from Europe, while unlikely, indeed seems to have made many countries hike their defense spending.
Kim Jong Un wants to meet Donald Trump in Switzerland
He said he expects North Korea to be ready to " fill in some details " of the commitments made by Mr Kim in Singapore. From left, Lisa Kenna, Alex Wong, Mike Pompeo, Sung Kim , and Allison Hooker in Pyongyang, North Korea, July 6, 2018.
As of June 30, Netflix had 130 million subscribers, including 57.4 million in the US.
In a letter to shareholders, Netflix acknowledged the miss: "We had a strong but not stellar Q2", the statement said. The company has said it plans to spend $14 billion on shows and movies this year.
The news of just 5.2 million total subscriber adds was especially pointed for Wall Street given Netflix's addition of 7.4 million in the first quarter, well ahead of the 6.5 million projected then. Revenue rose 5.6 percent, to $3.91 billion. However, the company took the opportunity to brag about overtaking HBO in the Emmy nomination race this year, breaking the latter's 17-year run.
Netflix is expected to face increasing competition in the next year or two.
He added the expectation that despite the weaker-than-expected results, the company was expected to continue to be the leading video streaming service across the US.
Jul 17 2018
Olivia Colman as Queen Elizabeth in The Crown season 3
Olivia replaces the utterly brilliant Claire Foy as Lizzie, a role which bagged her a Golden Globe for the Netflix series in 2017. But as for what we do know: today, Netflix released the first image of Colman as Her Majesty, and it is pretty much ideal .
Jul 17 2018
United agree deal to sell Daley Blind back to Ajax
Blind returned to United for pre-season training but was left out of the squad which travelled to America on Sunday. Sources have also told ESPN FC that United have received an enquiry from Inter Milan for full-back Matteo Darmian.
Jul 15 2018
Trump hits the links at his Scottish golf resort
Replying to that, Trump blamed former US President Barack Obama for not doing enough at the time to respond to the crisis. Putin as it seems to be, a meeting between the Russian President and his counterpart could not be more concerning", Sen.
Jul 15 2018
Protesters refused permission to fly Trump baby blimp at Holyrood
Mr Trump went on to say Mr Johnson, who quit as foreign secretary over the Chequers plan, was "a great representative for your country".
Jul 14 2018
Anderson has his work cut out against Isner in Wimbledon semifinal
The length of the first semifinal means that Djokovic's matchup with Nadal will be played under the lights on Centre Court. It will be the second Grand Slam final for Anderson, who reached the final of the US Open past year to Rafael Nadal .
Jul 13 2018
Trump tweets 'very nice' letter from North Korea's Kim
During an official visit to Britain, Trump posted images of the Korean-language letter from Kim and its English translation. President ", ( five times) and describes the June 12 meeting of the two leaders as " the start of a meaningful journey ".
Jul 12 2018
Southgate waistcoat wanted by Museum of London
Gareth Southgate believes his heroes have the power to unite England by securing a place in the World Cup final . Anyway, we won and the staff made this big thing about my lucky socks, saying I had to wear them next game.
Jul 11 2018
Juan Martin Del Potro scraps past Simon to set up Nadal clash
The 36-year-old is also on a streak of 32 consecutive sets won at the tournament, just two off his record. If his big serve - which has blasted 96 aces in four matches - kicks in, Federer could be in trouble.
Jul 10 2018
Apple Music Passes Spotify in Total U.S. Subscriber Numbers
Spotify still leads outside of the USA , tallying 75 million subscribers as part of its first earnings report in May. Apple is likely to draw about US 27 million users by the end of the year, with Spotify expected to have 24 million.
Jul 05 2018
Thibaut Courtois mocks Jordan Pickford for being too short
England captain Harry Kane celebrates scoring a goal against Colombia at the Football World Cup in Russian Federation . That included Dier himself, who sought to involve himself in the melee of England players on the Moscow pitch.
Jul 18 2018Trump unfazed by GOP criticism, says Putin meeting was great
Jul 17 2018British royal family releases official photos of Prince Louis' christening
Jul 16 2018Tesla hits 200,000 U.S. sales, tax credit phase-out to commence
Jul 15 2018De Bruyne & Kompany shine as Belgium finish third
Jul 14 2018Hearing a 'victory notch in Putin's belt': Federal Bureau of Investigation agent in Russian Federation probe
Jul 13 2018France midfielder Paul Pogba ready to make sacrifices for the team's cause
Jul 11 2018Brazil's Neymar says World Cup defeat is 'saddest moment of my career'
Jul 10 2018Trump admin wants more time to reunite migrant children with their families
Jul 06 2018These Democrats want to abolish ICE
Jul 06 2018His Montana rally reveals Trump’s emerging midterm campaign strategy
Jul 16 2018Trump calls the European Union a foe of the United States
Jul 16 2018John Giles: 'If Pogba has seen the light, France will win'
Jul 16 2018Police say 4 protesters arrested after shooting
Jul 14 2018Nishikori predicts Wimbledon 'war' with Djokovic
Jul 13 2018Netflix captures most Emmy nods title from HBO
Jul 12 2018How Supreme Court Justices Align With Their Presidents
Jul 12 2018USA unveils $200 billion list of China imports for tariffs
Jul 08 2018Iran says Trump 'destabilising' oil market
Jul 08 2018The unintended consequences of Trump’s trade war with China
Jul 06 2018Schumer suggests longest shot ever for Supreme Court
Jul 06 2018Sweden’s WAGS will stay at the same hotel as the ENGLAND team
Jul 05 2018Park Sung-hyun Wins 2nd LPGA Major in Dramatic Fashion