Netflix slumped over 25% in premarket trading as it saw Q2global streaming paid net losses of2M members.
Netflix said in its quarterly letter to investors: "For Q2'22, we forecast paid net additions of -2.0m vs. +1.5m in the year-ago quarter. Our forecast assumes our current trends persist (such as slow acquisition and the near-term impact of price changes) plus typical seasonality (Q2 paid net adds are usually less than Q1 paid net adds). We project revenue to grow approximately 10% year over year in Q2, assuming roughly a mid-to-high single-digit year-over-year increase in ARM on a F/X neutral basis. We still target a 19%-20% operating margin for the full year 2022, assuming no material swings in F/X rates from when we set this goal in January of 2022."
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