Netflix shocked investors last week by reporting a drop in US customers and much slower growth overseas, raising fears that the streaming giant is losing momentum just as competitors prepare to pounce.
The shares plunged 11 per cent to about $323 in pre-market US trading after Netflix reported the loss of 130,000 customers there. It signed up 2.8 million subscribers internationally in the period, roughly half what it had predicted.
“Netflix has a difficult road ahead, with looming competition...
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