Reed Hastings Just Threw Major Shade at the Rest of the Streaming Industry. Here's What You Need to Know
For years, Netflix (NASDAQ: NFLX) dazzled both its audiences and investors, but more recently it's become fashionable to trash the streaming pioneer.
Social media is filled with complaints about Netflix's content or posts from those who have canceled the service in favor of another streaming option. Wall Street largely bought into this narrative, especially after Netflix lost subscribers in the first two quarters of 2022, and the stock had lost more than 75% of its value at one point this year.
However, things are looking up for the company after it delivered better-than-expected subscriber growth in the third quarter. It added 2.4 million new members, and called for subscriber additions to accelerate in the fourth quarter, forecasting 4.5 million additions.
Source Fool.com
