SAN FRANCISCO --- Netflix shares plunged in after-hours trade Wednesday after its quarterly update showed weaker-than-expected subscriber growth for the streaming television sector leader. Netflix said it added 2.7 million new subscribers worldwide in the April-June period, well below expectations, as the sector prepared for offerings from rival groups including Walt Disney, Apple and others. Shares in Netflix skidded 11.97 percent to $319.07 in after-market trade following the results, which showed revenues and profits largely in line with analyst forecasts. Netflix said that it still sees long-term growth on target, dismissing concerns that consumers were gravitating to ri...
Keep on reading: Netflix shares slide on disappointing subscriber growth
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