NETFLIX’S 2Q DUD RATTLES INVESTORS AS COMPETITION HEATS UP
Netflix’s video streaming service suffered a dramatic slowdown in growth during its traditionally sluggish spring season, a drop-off coming as the company boosts its prices and girds for even stiffer competition.
The service picked up 2.7 million worldwide subscribers for the April-June period. That’s far below Netflix’s forecast of 5 million subscribers. The second-quarter letdown announced Wednesday comes after Netflix attracted nearly 10 million subscribers during the first three months of the year, more than
