Netflix Subscriber Growth Slows to a Crawl, Just as Management Predicted
Netflix (NASDAQ: NFLX) delivered its third-quarter earnings report after the market close on Tuesday, and the slowdown in membership growth was only slightly more pronounced than management had forecast. The company added just 2.2 million new subscribers, just a third of what it added in the prior-year quarter and down 80% sequentially. Overall subscribers clocked in at 195.15 million, up 23% year over year.
The streaming giant had warned that customer growth would slow in the second half of the year. Netflix had already added 25.86 million monthly subscribers during the first six months of 2020, nearly as many as it added in all of 2019. The company said that it had pulled forward some of its growth from later in the year.
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Source Fool.com
