Netflix in free fall on Wall Street. The stock of the video streaming giant dropped 14% to $84,96, the lowest level since February 8, after the publication of a disappointing quarterly report, especially from the point of view of users.
If the stock closed at these levels, considering that there are 428,3 million shares outstanding, the sales would cause a capitalization loss of nearly six billion dollars.
Netflix closed the second quarter of 2016 with 1,68 million more users, of which 1,52 million outside the United States and 160.00 in the domestic market. The data recorded are below analysts' expectations, but the company reiterates the break-even target for 2016 and a profit in 2017.
Competition "isn't slowing growth," Netflix says, pledging to cut losses internationally.
In the same reference period, revenues settled at 2,11 billion dollars, against 1,65 billion in the same period of the previous year and exactly in line with expectations. As for earnings, the US streaming giant recorded 9 cents per share, against 6 cents in the same period in 2015, beating the consensus set at two cents per share.
