translated from Spanish: Netflix sins in the face of price hikes and loses us customers

Netflix Inc. collapsed after the streaming giant reported an unexpected loss of U.S. customers for the second quarter, a drop that renews concerns about its growth prospects at a time of imminent competition.
The world’s largest paid online television network said Wednesday that it lost 130,000 customers in the U.S., due to price hikes and weak programming. 2.7 million subscribers were registered worldwide during the period, a number that also did not meet the projections. The company forecasts 7 million new subscriptions this quarter, as several major programs, such as “Stranger Things” and “Orange is the New Black,” return to service.
Key facts

The deficit will reaffirm investors’ concern about the company’s huge program spending and low profitability. The loss of customers in the U.S. was the first in years, and suggests that Netflix might run into price resistance or potential domestic market limits. It has predicted that it can reach 90 million customers in the U.S. compared to 60.1 million today.
Analysts expect the company to have a successful second half of 2019 thanks to an intense release schedule. But the competition is coming. Walt Disney Co. and Apple Inc. plan to introduce streaming services this year, while Comcast Corp offers. and AT&T Inc. will arrive in 2020. Netflix has said these rivals will not impact their customer base, but competitors plan to regain the rights to some of the service’s most popular programs.
International results also declined. The company registered 2.83 million new international customers during the quarter and did not reach its own forecast of 4.7 million. It expects to add another 6.2 million in the current third quarter, along with 800,000 in the U.S.
Second quarter earnings fell to $0.60 per share, but exceeded analyst estimates of $0.56. Sales increased 26% to $4.920 billion, compared to projections of US$4.930 billion.

Market reaction
Shares fell to 12% to US$318.31 in trading after the market closes. The shares rose 35% in the year at the close of regular trades, almost double the profit of the S&P 500.

Original source in Spanish