Shares of Walt Disney (NYSE: DIS) fell by 6.9% on Friday following the release of Netflix's (NASDAQ: NFLX) fourth-quarter results.
Netflix warned of slowing subscriber growth for its popular streaming service. The digital entertainment leader expects to add just 2.5 million subscribers in the first quarter. That's down from the 4 million net subscribers it added in the first quarter of 2021.
Netflix's Q1 forecast also fell well short of Wall Street's projections. The consensus analyst estimate had anticipated net subscriber gains of 5.8 million.
Source Fool.com