FBN’s Susan Li on how Netflix’s stock plunged after the release of its earnings report.
Netflix reported second-quarter earnings after the market closed on Monday, July 16, 2018.
Netflix fell short of its subscriber addition projections for the first time in five quarters, resulting in shares falling more than 14 percent.
Netflix added 5.15 million subscribers, about one million less than forecast.
Analysts have expressed concerns that competitors, such as Amazon will bolster their their streaming efforts, while content kings, Disney and AT&T (Warner, HBO, etc.) are prepared to invest in more digital content.
There is a forecast that Netflix will spend up to $8 billion this year on 700 original series.
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