Marit & Toomas Hinnosaar
After leaving the Russian Federation, Netflix revealed in late April that the number of its paid customers in the first quarter decreased by 200,000. Netflix claims that the termination of the service in Russia alone cost them 700,000 subscribers.
Stock of the corporation fell 25% in response to the announcement.
In a letter to investors, Netflix admitted that it "significantly underestimated our forecast for global net growth in paid members in the second quarter." The business had before anticipated losing 2 million paid subscribers.
In the current quarter, Netflix anticipates adding 1 million new customers.
source: ft.com
Stock of the corporation fell 25% in response to the announcement.
In a letter to investors, Netflix admitted that it "significantly underestimated our forecast for global net growth in paid members in the second quarter." The business had before anticipated losing 2 million paid subscribers.
In the current quarter, Netflix anticipates adding 1 million new customers.
source: ft.com
