Netflix lost almost 1 million subscribers during Q2 but, that's actually a net benefit, according to one media analyst.
Netflix- Loss of Subscribers
Netflix- Head of Research
"This is a good report," Santosh Rao, head of research at Manhattan Venture Partners, told Yahoo Finance.
Live following the company's highly anticipated second-quarter earnings results, which showed subscriber losses.
Netflix- Second Quarter
Rao stated that in streaming, and noted that "we cannot compare [subscriber] numbers to the past.
Netflix- In Streaming
Netflix suffered a loss of 200,000 users in April. However, has faced an increase in subscriber churn.
Netflix- Subscribers Churn
Reed Hastings, Netflix's co-CEO, admitted that it was difficult to lose a million subscribers.
Netflix- Difficult to Loose
They anticipate 1 million net additions in the current quarter, which is below Wall Street’s consensus.
Netflix- Current Quarter
Image Source- Bloomberg
The Q3 revenue guidance was also lower than expected at $7.84 Billion versus $8.1 Billion.
Netflix- Revenue Guidance
Image Source- Reddit
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