Moments ago, Netflix announced its second quarter earnings for 2022, revealing that it has lost 970,000 subscribers ⏤ over 700,000 more than the previous quarter ⏤ but the news is not necessarily bad when you consider that the streamer was projected to lose close to two million subscribers. However, its shares have plummeted 49 percent in this quarter alone.
Last quarter, the company announced the loss of 200,000 subscribers, its first such loss in 10 years. This ultimately resulted in multiple rounds of layoffs as Netflix struggled to compete with increasing competition.
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