Pursuits
Netflix Plunges on Forecast for Weakening Subscriber Growth
- International gains will shrink despite new programming push
- Domestic growth also to ease in typically slow second quarter
Is Netflix's Pullback a Buying Opportunity?
This article is for subscribers only.
Netflix Inc., the online TV network in the midst of a major worldwide expansion, plunged the most in 1 1/2 years after rattling investors with forecasts for weakening subscriber growth in the current quarter, especially in international markets.
Netflix expects to add 2 million new international customers, according to a statement Monday on its website. That’s fewer than the 3.45 million average of five analysts’ estimates compiled by Bloomberg. Domestic customers may increase by 500,000 in the second quarter, Netflix said, compared with the 505,000 average of estimates.