Netflix surprises by recording subscriber losses below expectations
Netflix shares have regained a lot of height in recent days thanks in particular to better-than-expected results and lower-than-expected subscriber losses. The streaming giant’s stock has rebounded 30% since July 13 after consolidating at a 5-year low for more than two months.
The Netflix action even managed to exceed its peak of early June at $210, which the main stock market indices, including the Nasdaq, have not yet succeeded in doing. It must be said that Netflix has benefited from better than expected results since Wednesday, but above all from a number of subscriber losses half as large as expected in the second quarter (970,000).
Additionally, the company said it expects one million new subscribers in the third quarter, which would make up for the loss of the previous quarter, and indicated that its share of the total television audience in the United States States reached a record high in June, at 7.7%.
Netflix (NFLX) stock price daily chart – key levels