Shares of Netflix fell in after-hours trading Monday as the company’s strong second-quarter revenue performance was undermined by somewhat underwhelming subscriber growth.
As analysts began to react to Netflix’s Q2 earnings, the stock price dropped 6.67 percent to $244.50. While the streaming video service generated $1.07 billion in revenue, up 20 percent from $889.2 million in the year-ago period, lackluster subscriber acquisitions left Wall Street cold.
Netflix closed out Q2 with 28.6 million paying subscribers, up 2 percent or 711,000 subs versus the first quarter.
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