The Daily Times Newspaper

Share Netflix Loses More Than Fifth of Value After Disappointing Forecasts

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Netflix shares will lose more than 20 percent when trading on Wall Street opens on Friday after the streaming giant gave disappointing forecasts on Thursday evening.

 

The company expects growth of 2.5 million subscribers in the first quarter of this year. However, that would be the weakest growth for the first quarter since 2010.

Investors were also not happy with the current subscription figures. Netflix has 221.8 million subscribers, narrowly below its own expectations of 222 million.

The reason for the disappointing figures must be sought in the fierce competition between the streaming platforms.

Other media companies active with streaming services also recorded losses on Friday. Disney lost 5 percent, ViacomCBS 2.8 percent and Roku 3.5 percent.

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