CORRECTED - Netflix's subscription additions miss expectations

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Reuters
Last Updated : Jul 19 2016 | 1:57 AM IST

(Reuters) - Netflix Inc's U.S. and international subscription additions in the second quarter fell short of analysts' expectations as price hikes for its video streaming service put off customers.

The company said on Monday it added 1.52 million subscribers in its international markets, compared with the average analyst estimate of 2.1 million.

Netflix, whose popular original shows include "Orange is the New Black" and "House of Cards", said it added 160,000 subscribers in the United States in the quarter, compared with the estimate of 532,000, according to research firm FactSet StreetAccount.

The company had forecast in April that subscriptions would increase by 500,000 in the United States and 2 million internationally in the second quarter.

Total streaming revenue rose to $1.97 billion in the second quarter from $1.48 billion a year earlier.

(Corrects to "total streaming revenue" from "revenue" in paragraph 5)

(Reporting by Rishika Sadam in Bengaluru; Editing by Saumyadeb Chakrabarty)

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First Published: Jul 19 2016 | 1:54 AM IST

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