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Netflix subscription gains screech lower as pandemic wears on, stock falls 5%
Published: Oct. 20, 2020 at 4:09 p.m. ET
By Jon Swartz, and Jeremy C. Owens
Netflix adds 2.2 million net new subscribers after two consecutive quarters adding more than 10 million customers
Netflix NFLX reported 2.2 million net new subscribers in its third quarter, after two consecutive quarters topping the 10 million mark amid shelter-in-place orders related to the COVID-19 pandemic. The No. 1 streaming service reported net earnings of $790 million, or $1.74 a share, compared with net income of $1.47 a share in the year-ago quarter. Revenue improved to $6.44 billion from $5.25 billion a year ago. Analysts surveyed by FactSet had expected adjusted earnings of $2.13 a share on sales of $6.39 billion.
Shares fell more than 5% in after-hours action immediately following the release of the report.
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https://www.marketwatch.com/story/netfli...=home-page
![[Bild: NFLXc1dl1614.png]](https://finviz.com/publish/102020/NFLXc1dl1614.png)
Published: Oct. 20, 2020 at 4:09 p.m. ET
By Jon Swartz, and Jeremy C. Owens
Netflix adds 2.2 million net new subscribers after two consecutive quarters adding more than 10 million customers
Netflix NFLX reported 2.2 million net new subscribers in its third quarter, after two consecutive quarters topping the 10 million mark amid shelter-in-place orders related to the COVID-19 pandemic. The No. 1 streaming service reported net earnings of $790 million, or $1.74 a share, compared with net income of $1.47 a share in the year-ago quarter. Revenue improved to $6.44 billion from $5.25 billion a year ago. Analysts surveyed by FactSet had expected adjusted earnings of $2.13 a share on sales of $6.39 billion.
Shares fell more than 5% in after-hours action immediately following the release of the report.
...
https://www.marketwatch.com/story/netfli...=home-page
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