Disappointing Earnings Against Expectations For Netflix

Netflix missed Wall Street expectations for new subscribers at the end of last year and delivered a weaker-than-expected forecast in early 2022, as competition intensified in the battle for viewers of its online streaming services.

The world’s largest streaming service added 8.3 million subscribers from October to December, when it released a slew of new shows, including star-studded movies like “Red Notes,” “Red Note,” and “Don’t Look At Me.” Top”, as well as a new season of (The Witcher).

Industry analysts expected Netflix to add 8.4 million subscribers, according to Refinitiv IBES data.

Netflix shares fell about 20 percent.

The company’s total subscribers worldwide will reach 221.8 million in 2021.

In a letter to shareholders, Netflix said it believes that the COVID-19 pandemic and economic difficulties in many world regions may have prevented subscriber growth from rebounding to pre-pandemic levels.

Netflix last week raised prices in its biggest markets, the US and Canada, where analysts say growth is stagnating.