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Netflix Subscriber Losses Impact Stock Price
Netflix (NASDAQ: NFLX) shares dropped more than 4% on April 22, 2022, following a significant decline since its first-quarter earnings report on April 19. The company’s stock hit a low of 74% from its peak of over $700 per share in November 2021.
In the first quarter, Netflix reported a net loss of 200,000 subscribers—the first decrease in over a decade—and projected an additional loss of 2 million subscribers for the second quarter. Contributing factors include inflation-driven consumer cutbacks, over 100 million households sharing passwords, and the loss of 700,000 accounts due to the service shutdown in Russia.
Intensifying competition from streaming rivals such as Disney and Amazon is also impacting Netflix’s market position as analysts question its ability to maintain dominance amid rising content costs.
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