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Domestic paid sub loss of 126k over 352k gain forecast

International paid subs 2.83m vs 4.81m forecast

Netflix said in addition to its content slate, its first quarter subscriber growth was so strong that “there may have been more pull-forward effect than we realized.”? The company also said in its letter to shareholder that the missed forecast was most pronounced in regions that saw price increases.

Even with the announcement of several new streaming services, Netflix told shareholders, “We don’t believe competition was a factor since there wasn’t a material change in the competitive landscape during Q2, and competitive intesity and our penetration varied across regions (while our over-forecast was in every region).”

Netflix is projecting a stronger third quarter on the heels of heavy viewership of the third season of “Stranger Things.” Netflix forecast 7 million global paid net adds for the next quarter. The company expects subscriber numbers will be boosted by its strong content slate in the third quarter, including the final season of “Orange is the New Black” and a new season of “The Crown.”
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