Netflix stocks fall 14% as company misses subscriber goal

Netflix missed its projections for subscriber additions for the first time in five quarters, spurring a fall of  14 percent in the company’s stock, according to CNBC.

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Netflix projected it would add 1.23 million domestic subscribers but only added 674,000,and it estimated it would add 5.11 million international subscribers but added 4.47 million. The company’s second-quarter earnings were $3.91 billion compared to $3.94 billion in estimated revenue.

For the third quarter, Netflix estimates it will add 650,000 subscribers in the U.S. and 4.35 million international subscribers.

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