Netflix Cites Olympics as Hurting Q3 Sub Growth, Viewing
Company adds net 530,000 U.S. streaming subs to stand at 23.9 million
By Todd Spangler, Multichannel News -- Broadcasting & Cable, 7/24/2012 4:42:56 PM
The company on Tuesday said it gained 530,000 streaming subscribers in the U.S. in the second quarter of 2012 to stand at 23.9 million and added another 560,000 internationally -- but the company's growth rates were well below its Q1 results.
For Q3, Netflix said it expects 1 million to 1.8 million U.S. net adds. "If we finish Q3 in the high end of that range, we would remain on track for 7 million domestic net additions for the year; otherwise it would be challenging to achieve that goal by year end," CEO Reed Hastings and CFO David Wells said in a letter to shareholders.
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