Netflix Stock Plunges As Subscriber Growth Reportedly Misses Mark

Streaming service Netflix’s stock plunged after a report that subscriber growth reportedly missed the mark.

Netflix reported its fourth-quarter earnings after the bell on Thursday and although they beat on both the top and bottom lines, shares plunged more than 20% in after-hours trading, to the lowest levels since June 2020, on slowing subscriber growth.

The earnings report described having “slightly” over-forecasted paid net adds in Q4 (8.3m actual compared to the 8.5m paid net adds in both the year-ago quarter and our beginning of quarter projection).

Additionally, Netflix said it expects to only add 2.5 million subscribers during the first quarter of 2022, far below the 3.98 million it added in Q1 2021.

Some celebrated the news as there is still a continued boycott over the film “Cuties,” which also is still available on the service.

Twitter user “LaurenH.eth” shared a screenshot of the plunge and remarked, “GOOD! F*ck @netflix and their pedo peddling org #Netflix#cuties#neverforget“

GOOD! Fuck @netflix and their pedo peddling org #Netflix #cuties #neverforget pic.twitter.com/x54t30IIP1

— LaurenH.eth 💎🙌 (@Laurenh10000) January 21, 2022

Over the last three months, the company’s stocks are now down 42%, with nearly 25% of that occurring today already.