Earnings Results: Netflix lost fewer subscribers than forecast and expects to win them back quickly, boosting stock


Netflix Inc. lost half as many subscribers as feared in the second quarter and expects to add even more in the current quarter, helping the stock shoot higher in after-hours trading Tuesday.

Netflix NFLX reported a net loss of 970,000 paid subscribers in the second quarter, while analysts on average were forecasting a reduction of 2 million net additions, according to FactSet. Netflix told Wall Street to expect 2 million subscribers to leave three months ago, while reporting its first subscriber decline in more than a decade…

This article was originally published by Marketwatch.com. Read the original article here.

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