It’s the company’s first dip in subscribers in a decade
Netflix shocked Wall Street on Tuesday by posting its first loss of subscribers in a decade, according to its first-quarter earning report. After the loss was reported, the stock plunged in after-hours trading about 24% at time of writing.
The streaming giant said profit rose to $3.53 per share on revenue of $7.78. Analysts expected a bottom line of $2.89 per share on revenue of $7.93 billion for the three months ending in March.
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