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Netflix stock price drops 20% as it misses subscriber goals in 4th quarter of 2021 Updated: 2022-01-21 13:42:54 KST

Shares of Netflix have plunged more than 20 percent in after-hours trading, the company after the bell on Thursday announcing disappointing subscriber numbers.
Netflix said it added 8.28 million new subscribers in the last quarter of 2021, falling short of its own goal of 8.5 million.
The company also said that it expects to add just 2-and-a-half million this quarter, far lower than the market forecast of almost 7 million.
Also putting pressure on Netflix is how its competition has grown in the pandemic.
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