Netflix Blames Chip-Based Credit Cards for U.S. Growth Shortfall

Updated on
  • U.S. subscriber growth lower than estimated last quarter
  • Some subscribers were dropped by `involuntary churn'

Netflix Blames Chipped Credit Cards for Slow Growth

Netflix Inc., the top-performing stock in the Standard & Poor’s 500 index this year, fell as much as 7.4 percent after saying the introduction of new chip-based credit cards cut off some customers, leading to lower-than-estimated U.S. subscriber growth last quarter.

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