Netflix’s ‘Concerning’ Second Quarter: A ‘Minor Blip’ or a Warning Sign?
Available to WrapPRO members
“As the marketplace grows more crowded, and the quality of competitors improves, Netflix will have to work harder to attract subscribers,” analyst Jon Giegengack says
Netflix’s second-quarter performance wasn’t pretty.
Nonetheless, Netflix still finds itself at the top of the streaming mountain, with more than 150 million global accounts. But Wall Street is more concerned with where a company is headed than where it currently stands.
So where does that leave Netflix? Battered, but not buried, according to several industry experts.
The streaming giant reported Wednesday the dreaded double whammy of acceptable, but not stellar, revenue growth, coupled with disappointing subscriber growth. Netflix added 2.7 million subscribers overall during the quarter — coming in 2.5 million customers shy of analyst expectations. Making matters worse, 126,000 U.S.