4 Red Flags for Netflix's Future
Netflix's (NASDAQ: NFLX) stock recently sank to its lowest levels since early 2018, following its first-quarter earnings report on April 19. The main reason was its first loss of subscribers in more than a decade.
Netflix ended the first quarter with 221.64 million subscribers, which represented a sequential decline of 200,000 subscribers. It mainly blamed that loss on the suspension of its services in Russia. Excluding Russia, its subscribers would have risen about 500,000 sequentially.
However, Netflix also predicted its subscribers would drop by another two million sequentially in the second quarter -- which suggests that Russia isn't its only problem. During the conference call, co-CEO Ted Sarandos admitted the company was facing "heightened levels of competition."
Source Fool.com
