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Quick Tech News

QuickTechnics

by A. Fäh

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Quick Tech News

QuickTechnics

by Alexander Fäh

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Netflix is falling and falling!

Despite increasing sales, Netflix can not particularly hold its own on the stock market. The share fell by a whopping 35% yesterday and by another 1.5% in the aftermarket.

Netflix loses customers; Image: Reddit

Netflix released its quarterly results two days ago. Less than five minutes later, the stock dropped by a full 25%, which specifically means that $50 billion of market valuation was wiped out. One reason for this is certainly the decline in customers. Last quarter, Netflix had over 75 million paid memberships. This quarter, it's less - just over 74 million paid memberships.

Likewise, profits declined very sharply. Just a year ago, Netflix reported a profit of over $1.7 billion. This quarter, it's $200 million less, leading investors to invest in a decline and sell out of fear.


Also, the Corona pandemic has helped out Netflix greatly. Many were at home looking for ways to entertain themselves and Netflix was a good option for that. However, with the repeal of almost all Covid measures, people needed the Netflix subscription less and therefore many cancelled it, leading to the company bringing in less profit.


Netflix stock has also delivered poor quarterly/annual reports at the beginning of 2022, where it also already fell over 20% in one day. Currently, the stock is over 66% away from its last all-time high.

 
 
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