Netflix loses nearly $45 billion in market cap after ‘borderline catastrophic’ forecast' showed almost 3.5M FEWER subscribers for 2022 first quarter

January 21, 2022   |   Tags:
Netflix dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20 percent and wiping away most of its remaining pandemic-fueled gains from 2020, just a week after raising prices by up to $2 a month. The streaming platform projected it would add 2.5 million customers for the first quarter of 2022 - January through March - less than half of the 5.9 million analysts had initially forecast. Netflix tempered its growth expectations, citing the late arrival of anticipated content, such as the second season of Bridgerton, and the film The Adam...


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