Video service Netflix expects that growth in the number of subscribers will grow slower due to essakane coronavirus boom subscriptions.
This is stated in the quarterly report Netflix.
The quotations of the company on this news fell by 10%, but YTD, they still increased by 60%, and from the March level of the bottom 70%.
Netflix was one of the few companies to financial results which the isolation was a boon. In the second quarter, the service reported 10 million paid subscribers after a gain of 15.8 million in the first quarter.
For the first half of 2020, the service was joined by only 10% less subscribers than in all of 2019. Quarterly revenue came in line with forecasts: 6,15 billion.
But in the third quarter, the company expects just 2.5 million new subscribers, while the market predicted 5.3 million
“Rally shares” of the company could stall as investors are interested in whether there will be subscribers with Netflix after the lifting of the quarantine, the opening of borders and normalization of daily life.
On the other hand, the situation with the epidemic on the main market of the company in the United States – is getting worse, restrictive measures are back, and this can extend the influence of factors of growth of the subscription base in the form of private cinemas and stadiums.