Netflix, the US provider of online TV and movie streaming services, yesterday delivered a “disappointing” second quarter outlook. However, it pointed to a positive start to its business in the UK and Ireland.
Launched in January, the UK and Irish service has delivered the highest net additions Netflix has “ ever seen in the first 90 days of an international market launch”. The company attributed some of this success to its engagement with social media hub Facebook – “its most broad-scale Facebook integration to date”.
However, the company tumbled in early trading in the US yesterday due to its forecast. JPMorgan described its outlook as “disappointing”, and several analysts cut their price targets on the stock.
:quality(70)/s3.amazonaws.com/arc-authors/irishtimes/49b5bd85-975f-4bb4-b7b2-a16ea7c1b3b2.png)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/OEJH4J26O5AYXCS2RGZU5JOCXY.png)