Why Netflix Stock Fell 12% in July
Shares of Netflix (NASDAQ: NFLX) dropped 12.1% last month, according to data provided by S&P Global Market Intelligence.
The streaming giant signed up only 2.7 million new members last quarter, which fell well short of management's guidance for 5 million new subscribers. Despite the shortfall, revenue still increased 26% year over year, and operating income grew 53%, consistent with management's expectations.
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