Netflix slips after stopping subscriber tally report, downbeat Q2 revenue forecast

Netflix slips after stopping subscriber tally report, downbeat Q2 revenue forecast

The Star Online - Tech·2024-04-19 19:00

(Reuters) - Netflix's shares fell as much as 6.22% to $572.58 in premarket trading on Friday after the company unexpectedly said it would no longer provide subscriber counts, while its second-quarter revenue forecast fell short of Wall Street expectations.

The video streaming pioneer's revenue target for the current quarter missed analysts' average estimate of $9.54 billion. It said on Thursday that from the 2025 first quarter, it would no longer report subscriber numbers each quarter.

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