Netflix Shares Plummet 15 Percent on Slumping Subscriber Numbers

Could’ve been worse — at least the streaming company topped Q2 earnings expectations

Last Updated: July 18, 2016 @ 2:12 PM

Netflix stock just took a nasty tumble.

The streaming company’s share price fell 15 percent fast after missing badly on subscriber growth forecasts. That’s a value of about $15 per share.

Below is a look at the company’s full trading day. Note the steep after-hours decline:

NFLX-2

The market is reacting (harshly) to Netflix’s slower-than-anticipated Q2 subscriber growth.

The company had previously forecast it would add 2.5 million users this past quarter, but it only clocked in at 1.7 million. Last year, Netflix added 3.3 million new members over the same 90-day period.

At least the company topped its actual earnings per share expectations. Read all about the second-quarter financials here.