After experiencing a meteoric spike at the beginning of the pandemic, Netflix’s subscriber growth is slowing down.
The Los Gatos-based streamer on Thursday reported that it added 8.3 million subscribers in the fourth quarter, falling short of its initial forecast of 8.5 million. Last year, Netflix added 18 million subscribers, compared with 37 million in 2020.
In after-hours trading, Netflix stock fell nearly 19% to $415.10 on Thursday afternoon following the company’s earnings report.
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