(Bloomberg) Netflix Inc. shares fell the most in nine months Friday, taking the shine off stellar first-quarter financial results following management’s decision to stop reporting quarterly subscriber data.Most Read from BloombergElon Wants His Money BackNew York’s Rich Get Creative to Flee State Taxes. Auditors Are On to ThemDubai Grinds to Standstill as Flooding Hits City‘Mag Seven’ Get Crushed Before Next Week’s Results: Markets WrapIsrael Reported to Have Launched Retaliatory Strike on Ir
Both user and subscriber growth exceeded expectations, while revenue was in line with guidance, though one-time charges led to an operating loss in the quarter.
When Netflix cracked down on subscribers sharing their passwords in February, viewers were furious. Speculation abounded that the streaming giant was overestimating its appeal, handing its rivals an easy win and blowing up hard-won goodwill. But the outrage didn't change Netflix executives' minds. Now they're singing the praises of the very unpopular crackdown, and plotting new ways to get the viewing public to send more cash to Los Gatos' most prominent company. Chief executives Ted Sarandos an