Netflix Tests Investors’ Risk Appetite With Shortfall
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Netflix Inc. posted second-quarter subscriber gains that missed forecasts, rattling investors who bid the stock up almost threefold this year on expectations original shows would fuel faster growth.
The biggest subscription-video service reported 630,000 new U.S. streaming customers in the second quarter, according to a statement yesterday. While above year-earlier gains, that was about 100,000 shy of analysts’ estimates and the company’s highest forecast. The stock, this year’s top performer in the Standard & Poor’s 500 Index, slid 4.5 percent in New York.