Netflix sees its first drop in subscribers in over 10 years

The number of subscribers to global internet television network Netflix fell by 200,000 in the first quarter of 2022.

Netflix released its results for the first quarter of this year.

Accordingly, the company’s revenue for the first quarter of the year rose 10 percent compared to the same period last year to $7.9 billion. The company’s revenue for the same period last year was $7.2 billion.

The company’s net income, on the other hand, fell 6 percent year-on-year to $1.6 billion in the first quarter. Netflix’s net income for the first quarter of last year was $1.7 billion.

The company’s earnings per share also fell from $3.75 to $3.53 over the same period.

SUBSCRIBERS COUNT DOWN FOR THE FIRST TIME IN MORE THAN 10 YEARS

Netflix subscribers fell by 200,000 in the first quarter of the year. During this period, the number of Netflix subscribers should increase by 2.5 million.

The decision to end its service in Russia following the attack on Ukraine in early March resulted in the loss of 700,000 members for Netflix.

Netflix has a total of 221.6 million subscribers worldwide.

Netflix, which reported the last loss of subscribers in October 2011, noted that the subscriber loss is expected to continue in the second quarter of the year and said loss is expected to reach 2 million.

Source: AA

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