New customer forecasts from Netflix are way short of what investors were expecting and so they punished the video streaming service with a sell off of its shares.
Netflix said it expects to add about 500,000 customers in the United States in the second quarter that ends in June.
Wall Street targets was reportedly looking for closer to 600,000 for the company – known for its original shows including ‘Orange is the New Black’ and ‘House of Cards”’.
In markets outside the United States, Netflix forecast is for two million new subscribers versus analysts’ expectations of 3.5 million.
Netflix also reported results for the first quarter, when the number of new viewers for its monthly movie and TV subscription service actually was higher than it had previously predicted.