A slower fox

16 July 2018 By Jennifer Saba Follow @jennifersaba

The streaming-video service attracted fewer new subscribers than forecast in the latest quarter, knocking $20 bln off its value. That will comfort Disney and Comcast as they wage a costly battle for Fox and Sky. Yet with 130 mln customers, Netflix remains far ahead in the race.

This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

Context News

Netflix reported on July 16 that growth in subscribers fell short of its forecast in the second quarter. The streaming-video service added 5.2 million net new subscribers globally in the period, taking its total to 130.1 million. It had projected growth of 6.2 million. Paid subscribers increased by a net 5.5 million, compared with a forecast of 6.1 million.

Revenue was $3.9 billion in the quarter, up 40 percent from the same period a year earlier. Earnings increased nearly sixfold to $384 million. At 85 cents a share, earnings exceeded the consensus analyst estimate of 79 cents.

Email a friend

Please complete the form below.

Required fields *