Streaming video pioneer Netflix disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading. The revenue figure, along with a weaker-than-expected forecast for revenue in the third quarter, overshadowed the addition of 5.9 million new streaming customers from April through June and earnings that easily topped predictions. Shares of Netflix were down 8.9% after the results at $435.
Streaming video pioneer Netflix disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling.
LOS ANGELES :Streaming video pioneer Netflix disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9 per cent in after-hours trading.The revenue figure, along with a weaker-than-expected forecast for revenue in the third quarter,
LOS ANGELES (Reuters) -Streaming video pioneer Netflix disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading. Shares of Netflix were down 8.9% after the results at $435. Netflix has been looking for new ways to make money as streaming competition intensifies and it nears market saturation in the United States.