Jul 16, 2020
Netflix warns of slowdown after subscriber surge
Netflix has seen a surge in sign-ups due to the coronavirus lockdown, but has warned investors that subscriber growth will slow. In contrast, Netflix saw 28 million new subscribers for the whole of 2019. Netflix shares dropped in after-hours trading as investors digested the firm's quarterly update. The subscriber additions were far higher than analysts had expected. While, some people might still end up quitting the service, "The pandemic has clearly shown that Netflix is an indispensable part of viewers lives," said Paolo Pescatore, analyst at PP Foresight.
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