Massive loss of customers
Netflix stock slides even further
4/20/2022, 6:19 p.m
Yesterday Netflix published its quarterly figures, according to which the streaming giant lost customers for the first time in ten years. The stock market reacts immediately, the share rushes off. At today’s stock market launch in New York, things look even bleaker.
The share price of the US streaming service Netflix fell by more than 30 percent when it went public in New York. Investors reacted to the publication of the quarterly report yesterday: Accordingly, the number of subscribers to Netflix fell for the first time in ten years.
Minutes after the start of trading, the price crashed 31.2 percent down to $ 240. According to Factset’s calculations, Netflix’s stock market value fell by more than $40 billion.
Netflix announced on Tuesday that its global subscriber base fell by 200,000 in the first quarter. These sobering figures caused Netflix shares to fall 26 percent in after-hours trading in New York on Tuesday.
Netflix had actually expected to add 2.5 million more subscribers — and analysts were expecting an even bigger increase. The company justified the decline, among other things, with the ban on its service in Russia as a result of the Ukraine war; In addition, there is growing competition from offers such as Disney+.