Netflix shares plunge in after-hours trade after forecast miss

Internationally, the company added 4.47 million new subscribers, short of its guidance for 5 million. That compares with consensus estimates for 1.2 million and 5.04 million, respectively. While it's one thing for Netflix to fall short of Wall Street expectations, it's another matter entirely for Netflix to fall short of its own internal projections.

Shares are down $53.47, or 13%, in late trading, to $347.01.

Subscriber additions: 5.1 million total - 670,000 in the USA and 4.47 million internationally.

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Netflix's subscriber numbers are seen as a bellwether of its fortunes. Wall Street analysts were expecting Netflix to report $.79 on revenues of $3.94 billion and an addition of 6.2 million subscribers. Nonetheless, it's not all doom and gloom for Netflix. Analysts had projected revenue of $3.94 billion. The 112 Netflix nominations include five best series and best limited series nominations and are spread across 40 different scripted and unscripted series, TV movies, limited series, documentaries, talk shows, comedy specials and series for kids.

The California-based company added 670,000 net subscribers in the US, far below the 1.19 million net additions expected by analysts polled by Thomson Reuters.

"This isn't entirely surprising given rising competition in the video streaming market, where Amazon, Hulu, HBO and others are gaining share of subscription video dollars at Netflix's expense", he added.

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