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Netflix Nears 100 Million Subscribers, But Q1 Gains Fall Short of Expectations

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Netflix losing competitive advantage
Photo credit Shardayyy under Creative Commons license.

Variety reports: “Netflix added fewer subscribers than expected for the first three months of 2017, while the No. 1 subscription-video provider said it will surpass the 100-million mark this coming weekend. For the first quarter, Netflix added 1.42 million U.S. subs and 3.53 million overseas. Previously the company had projected net gains of 1.5 million in the U.S. and 3.7 million internationally for period. On the subscriber-growth miss, the company’s stock fell 3% in after-hours trading before rebounding a bit (but still trading below Monday’s closing price).”

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