Skip to content
Markets
Screentime

Netflix Plunges After Forecast for New Customers Disappoints

  • Company expects to sign up 2.5 million subscribers in quarter
  • That would be the company’s worst start in more than a decade
Video player cover image
WATCH: Netflix expects to add just 2.5 million subscribers this quarter, falling short of Wall Street’s estimates. Bloomberg Intelligence’s Geetha Ranganathan has more.Source: Bloomberg
Updated on

Netflix Inc. expects to add just 2.5 million subscribers this quarter, a number that falls short of Wall Street’s estimates and would mark the slowest start to a new year for the company in at least a decade. 

Shares of Netflix fell as much as 20% to $404.50 in after-hours trading, erasing about $45 billion in market value as investors braced for the prospect that the streaming giant is entering a new phase of slower growth. Walt Disney Co. and Roku Inc. also slumped.