Netflix Loses 200,000 Subscribers, Stock Price Plummets 35%

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Viva Budy Kusnandar 22/04/2022 10:10 WIB

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Compared to the end of last year, Netflix's share price has been cut by 63.3%.

Netflix Stock Price Movement (December 1, 2021 - April 21, 2022)

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Netflix Stock Price Movement (December 1, 2021 - April 21, 2022)

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Netflix (NFLX) stock price closed down 3.52% to US$218.22 on Thursday (April 21, 2022), continuing its decline for the second consecutive day.

On the previous trading day, Wednesday (April 20, 2022), the stock price, traded under the symbol NFLX on the Nasdaq Stock Market, plummeted 35.12% to US$226.19 compared to the previous day's close. This was the biggest drop for NFLX since 2004. Compared to the end of last year, Netflix's stock price has fallen by 63.3%.

The fall in Netflix's stock price coincided with the release of its Q1 2022 financial report. The company's profit decreased, and the number of Netflix subscribers dropped by 200,000 to 221.64 million as of March this year, compared to the end of last year. In Q2 2022, the number of Netflix paying subscribers is projected to fall further to 219.64 million.

Based on the Q1 2022 financial report, Netflix's net income fell by 6.4% to US$1.59 billion compared to Q1 2021. Similarly, net income per share decreased by 6.49% to US$3.6 per share.

Netflix's declining performance is due to the company's revenue growth of only 9.83% to US$7.87 billion in Q1 this year compared to Q1 of the previous year. Meanwhile, costs increased by 10.76% to US$4.28 billion. This resulted in operating income growing by only 0.6% to US$1.97 billion in the first three months of this year.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."