NFLX is down over 10% at $322.23. Netflix was expected to add 5.06M new subscribers but added just 2.7M which is also below the 5.5M from Q2 2018.
The problem is in US paid subscribers; we had a decline of 126,000 while the expectations looking for a gain of 309,240. The missed subscriber forecast was across all regions, but slightly more in regions with price increases. The company blamed its weaker-than-expected subscription results on its second-quarter content offerings, but I believe It was only the increased price that drove members away. Company needs to adjust price very fast according to the content they offer.
What I like is that the International paid subscribers increased by 2.83 million, vs. gain of 4.75 million expected
Also the company ended the quarter with 151.56M global paid memberships, a growth of 21.9% yearly.