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6 Jun 2020 7:57
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  •   Home > News > Business

    Netflix investors are spooked after the streaming service endured a sluggish quarter

    Netflix investors are spooked after the streaming service endured a sluggish quarter


    The media giant picked up 2.7 million subscribers over the last quarter, half the 5 million it had forecast and well down from the 10 million who signed up during the first quarter.

    It comes as rival companies such as Disney and Warner Bros plan their own services, and are stripping their content away from Netflix.

    The company's stock plunged 12 percent after the numbers came out, which could lead to $18 billion in shareholder wealth being wiped off the company's value.

    © 2020 Newstalk ZB, NZCity


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     05 Jun: Queenstown Mayor Jim Boult agrees the tourism township is heading for 18.5 percent unemployment - but only if it does nothing
     04 Jun: A new survey of businesses who claimed the wage subsidy shows it was a lifeline for some workplaces
     04 Jun: An Auckland businessman's been put behind bars for smuggling nearly 20 million cigarettes into the country
     04 Jun: An look into the initial impact of Covid-19 on small businesses
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