Stocks acting like cryptos

chronocrypto (75)in LeoFinance • 2 years ago (edited)

Netflix Drops After Reporting Loss in Subscribers, Also Company is finding ways to purge the non account holders that share accounts.

Netflix's disastrous earnings report is worse than we thought

-25%, ouch

Losing over so much Subscribers of a service in the first quarter of a year is doomsday for other subscription based companies. Disney next?

Dropping like a brick.. Sure this is normal for the cryptos but for big tech companies.. the bubble is about to pop and it will pop.

Netflix is forecasting a global paid subscriber loss of 2 million for the second quarter. The last time Netflix lost subscribers was October 2011.

2 million.. that's a kick lower belt style. It will be a gnarly blood bath to say the least. Losing over 25% ouch. Netflix speculates that the suspension of its service in Russia and the winding-down of all Russian paid memberships resulted in a loss of 700,000 subscribers.

Still though Netflix reported revenue of $7.87 billion for the first quarter of 2022 during Covid times it was on a killing rampage, since most things are open Netflix is out the window and more and more people are out and about not taking the fresh air for granted.

I expect to be more blood on the streets.

#stockmarket #neoxian #hive-engine #profit #netflix #cent #leofinance #pimp #abundance #pandemic

2 years ago in LeoFinance by chronocrypto (75)

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mirroredspork (56) 2 years ago

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dbooster (75) 2 years ago

I can't help but think this is a sign of the unbalance of society. As the poor get poorer and the rich get richer, we are going to see more and more instability in all the markets.

But also, Netflix did it to themselves. Their content has gone to shit as they cut costs and instead use profits to give the CEO and other top positions more money. Then as people are already pretty upset about the dropping quality, they announce price increases and mentions of ads. Idiots. Of course things are going to go to shit after that.

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thepimpdistrict (60) 2 years ago

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imno (63) 2 years ago

Netflix should have gone under a couple years ago. They were borrowing billions in junk rated debt back in 2017. The pandemic and all the easy money saved them. Their only option to make more money is to keep raising their prices which is harder in the face of actual competition. Now with easy money policies pulling back and inflation hitting their bottom line while consumers tighten due to higher food and gas prices, Netflix actually as to deliver and they can't.

They just never really were to powerhouse people gave them credit for being. They just had a lot of money being thrown at them because it was easy money for wall st. As the money pulls back, they can't keep it together.

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olympicdragon (64) 2 years ago

Netflix stocks down. I think raising prices for subscription is the trouble. Now people need the money, inflation so you should not raise prices !

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worldstories (60) 2 years ago

I think that the suspension of service in Russia contributed to this loss and the decline in shares, in addition to high prices of its services

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lif3t1m3 (33) 2 years ago

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hivebits (53) 2 years ago

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lif3t1m3 (33) 2 years ago

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hivebits (53) 2 years ago

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jersteemit (67) 2 years ago

That's quite a huge drop in their market share. When I thought the bubble thing applies to crypto, I guess it's much worse for the American streaming subscription company with 25% off. All in all, no market currently appears to be having a field day. With money moving out, one can only wonder it going to

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lif3t1m3 (33) 2 years ago

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hivebits (53) 2 years ago

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jfang003 (74) 2 years ago

I wonder if this is in response to the no more sharing password feature. I don't really think that would cause more people to sign up or not. At the same time, there is only so much new stuff on Netflix so I wouldn't be surprised if people stopped paying until there is something they want to watch.

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