Netflix loses subscribers, but stops the bleeding
CNN
Netflix reported Tuesday that it lost 970,000 subscribers in the second quarter of 2022 — a number far lower than its own forecasts, which had projected that the streaming giant would lose two million subscribers.
The company also said it would add another one million subscribers in the third quarter, a number that was slightly lower than Wall Street expectations. But investors were clearly happy with the results, and Netflix shares jumped as much as 8% on Tuesday in after-hours trading.
After disclosing in April that it lost 200,000 subscribers, leading to a steep drop in its share price, all eyes were on Netflix Tuesday, with Wall Street, Hollywood and the media world all hyper-focused on its subscription numbers. The company's shares had dropped dramatically during a nightmare year.
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