Netflix forecasts weak subscriber additions in second quarter, shares down

[Original Post] FILE PHOTO: The Netflix logo is shown in this illustration photograph in Encinitas, California October 14, 2014. REUTERS/Mike Blake/File Photo (Reuters) – Netflix Inc on Tuesday forecast a fall in global paid subscriber additions for the second quarter compared with a year earlier after reporting better-than-expected subscriber additions in the first quarter, sending […]

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[Original Post]

FILE PHOTO: The Netflix logo is shown in this illustration photograph in Encinitas, California October 14, 2014. REUTERS/Mike Blake/File Photo

(Reuters) – Netflix Inc on Tuesday forecast a fall in global paid subscriber additions for the second quarter compared with a year earlier after reporting better-than-expected subscriber additions in the first quarter, sending its shares down 4 percent.

The company now expects to add 5 million subscribers globally in the current quarter compared with 5.45 million that it had added a year earlier.

The company said it signed up 1.74 million paid subscribers in the United States, above the average analyst estimate of about 1.57 million, according to IBES data from Refinitiv.

Netflix added 7.86 million paid subscribers internationally, compared with the average analyst estimate of 7.14 million.

Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur

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