Netflix Delivers Disappointing Earnings After Price Hike
They’re swimming upstream. Netflix signed up 1.7 million subscribers in the second quarter, well short of its 2.5 million goal, and Monday’s news sent its stock plunging. More people are streaming video than ever, but a recent price increase — coupled with more competition from similar services from Google, Amazon, Apple and HBO — has taken the shine off a company with a sterling reputation. Netflix’s biggest opportunities remain global, as it expanded to 130 new countries this year, but it still hasn’t been able to crack the Chinese market.