After a decade of remarkable growth, Netflix has some problems. The platform lost 200,000 customers in the first quarter of the year. It is the first time that the streaming service has lost subscribers since 2011.
Investors and analysts were prepared for the company to report a weak start to the year. However, Wall Street expected Netflix to add 2.5 million customers. Shares in the company were already down more than 40% this year. They dropped another 24% to $265.11 after the markets closed on Tuesday.
Start your free trial to read this story and start the lesson
Get full access to all our news stories, interactive English lessons and downloadable materials.
Already have an account? Log in.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec ac molestie augue. In sed massa malesuada, dictum dui eu, maximus eros. In ac elementum lorem. Donec eu consectetur velit. In vestibulum ante ultricies, rutrum est quis, eleifend leo. Nulla sit amet urna tincidunt, mattis metus in, lacinia purus. Aenean at auctor urna, non facilisis leo.
Fusce viverra eget metus vel tincidunt. Vivamus at massa congue, accumsan metus at, facilisis dui. Mauris vulputate auctor lorem, ac posuere risus mollis in. Aliquam sagittis tincidunt ullamcorper. Vivamus porttitor lorem vitae orci auctor, sit amet rhoncus eros ultrices. Morbi in tincidunt ligula. Nulla facilisi.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec ac molestie augue. In sed massa malesuada, dictum dui eu, maximus eros. In ac elementumlorem.Donec eu consectetur velit. In vestibulum ante ultricies, rutrum est quis, eleifend leo. Nulla sit amet urna tincidunt, mattis metus in, lacinia purus. Aenean at auctor urna, non facilisis leo.
Fusce viverra eget metus vel tincidunt. Vivamus at massa congue, accumsan metus at, facilisis dui. Mauris vulputate auctor lorem, ac posuere risus mollis in. Aliquam sagittis tincidunt ullamcorper. Vivamus porttitor lorem vitae orci auctor, sit amet rhoncus eros ultrices. Morbi in tincidunt ligula. Nulla facilisi.