Netflix Misses on Subscriber Growth During First Quarter

Netflix

During the first quarter of 2017, Netflix added just under 5 million new subscribers, however, it fell short of hitting their goal of 100 million member milestone that investors of the widely popular streaming service were anticipating, which sent its stock down during after-hours trading on Monday.

The quarterly earnings were revealed on Monday at 40 cents per share on revenue of $2.64 billion, up nearly 35 percent from the same period last year. Wall Street was expecting earnings of 38 cents per share on $2.64 billion in revenue. Those at Netflix feel that the lower subscription additions to the quarter have to do with the fact that its debuted fewer hit shows, including moving House of Cards from its usual first quarter release of February to May. The only hit show that Netflix released during the first quarter outside of Iron Fist is 13 Reasons Why, which premiered on the last day of the period.

Take a second to support Reel Chronicles on Patreon!
blank
About David Gonzalez 742 Articles
As Reel Talk’s Founder and CEO, David is an avid film geek and collector of over 2,000 movies. As Reel Talk’s #1 film critic, he provides his unbiased opinion on all good or bad films, past and present. He’s a connoisseur of all things Batman and Star Wars. Email him at reeltalkinc@gmail.com or follow on Twitter @reeltalkinc_
UA-79996458-1