Netflix shares plunge 20% due to lack of new subscribers

 Netflix shares down 20% due to lack of new subscribers

Streaming platform Netflix released a report on the number of subscribers by the end of the fourth quarter of 2021, after which the company's share price fell by 20%.

Three months earlier, the management of the streaming service predicted that by the end of the year the number of subscribers of the service would reach 222.06 million people worldwide, but they turned out to be 221.84 million.

Netflix's profit has also noticeably decreased. If at the end of the third quarter of last year it was $1.44 billion, then at the end of the fourth – only $607 million.

These figures led to a sharp drop in the value of the company's shares. At the end of trading on the New York Stock Exchange, Netflix securities fell by 20%.

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