Netflix shares plunge as global growth falls short, US customers shrink
Illustration picture taken during a press conference for the launch of Netflix application. Netflix faces the future loss of its two most-streamed shows. PHOTO | JASPER JACOBS | BELGA
Netflix Inc said on Wednesday it lost US streaming customers for the first time in eight years and missed targets for new subscribers overseas, an announcement that jarred investors ahead of looming competition.
Netflix shares sank nearly 12 per cent in after-hours trading after the company posted quarterly results that showed it shed 130,000 US customers from April to June.
