Netflix Stock Plunges After Reporting Subscriber Losses In 1st Quarter

CBS San Francisco

April 20, 2022

Netflix’s bad 2022 just got worse.

After shares tanked earlier this year because of concerns over its subscriber growth, the streaming leader headquartered in Los Gatos said that it lost subscribers when it reported first quarter earnings on Tuesday.

Netflix now has 221.6 million subscribers globally. It lost 200,000 subscribers in the first quarter of 2022, the company reported on Tuesday. The service was expected to add 2.5 million subscribers, and it said it expects to lose another 2 million subscribers in the second quarter of 2022.

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