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Netflix rises as million-customer loss avoids worst scenario

Bloomberg
Bloomberg7/20/2022 08:13 PM GMT+08  • 5 min read
Netflix rises as million-customer loss avoids worst scenario
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After losing more than a million customers in the first half of 2022, Netflix Inc. has a message for investors: It could have been worse.

The leader in paid streaming TV lost 970,000 subscribers in the second quarter, according to a statement Tuesday. That was less than half what Wall Street feared, thanks in large part to a new season of “Stranger Things,” the service’s most popular English-language series.

“We’re talking about losing 1 million instead of 2 million -- our excitement is tempered by the less-bad results,” Chairman Reed Hastings said on an earnings call. “But looking forward, streaming is working everywhere. Everyone is pouring in.”

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