Netflix shares drops more than 30 percent: Check Reason

Netflix shares drops more than 30 percent: Check Reason

Netflix shares drops more than 30 percent: Check Reason

Netflix stock dropped more than 30% early Wednesday after the streaming business announced a drop in subscribers for the first time in a decade.

For the second quarter in a row, the streaming behemoth caught Wall Street by surprise by announcing a loss in subscribers for the first time in a decade.

The company blamed the quarter-over-quarter decline on the suspension of its service in Russia as a result of Moscow's invasion of Ukraine. The dip in share price was similar to the previous quarter when a weak subscriber outlook sent Netflix shares falling.

The Nasdaq, which was down 0.7 percent at 13,522.73, was particularly impacted by Netflix's decline.

The Dow Jones Industrial Average gained 0.5 percent to 35,084.97 about 25 minutes into trading, while the broad-based S&P 500 gained less than 0.1 percent to 4,464.19.

Post a Comment

Comments are welcomed and encouraged on Stuffsearth Website, but there are some instances where comments will be edited or deleted as follows:

Comments deemed to be spam or solely promotional in nature will be deleted. Including a link to relevant content is permitted, but comments should be relevant to the post topic.
Comments including profanity will be deleted.
Comments containing language or concepts that could be deemed offensive will be deleted. Note this may include abusive, threatening, pornographic, offensive, misleading or libelous language.
Comments that attack an individual directly will be deleted.
Comments that harass other posters will be deleted. Please be respectful toward other contributors.
Anonymous comments will be deleted. We only accept comments from posters who identify themselves.
The owner of this Website reserves the right to edit or delete any comments submitted to the 'Website's Post/Content' without prior notice. This comment policy is subject to change at any time. If you have any questions about the commenting policy, please let us know by using our 'Contact Us' form .

To Top