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Netflix Inc. shares have been heading in the right direction for his or her worst day in over a decade after the streaming big reported that it misplaced subscribers within the first quarter.
The shares shed greater than a 3rd of their worth Wednesday afternoon. Traders had anticipated that the corporate would add new customers within the quarter. As a substitute, Netflix mentioned it ended the primary three months of the yr with 200,000 fewer subscribers than it had within the fourth quarter and mentioned it anticipated to lose two million international subscribers within the present quarter.
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