Netflix stocks tank after revealing underwhelming subscriber growth numbers
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Netflix stocks tanked by 11 percent during after-hours trading despite recording subscriber growth in its first quarter financial results. The investor disappointment came from the addition of just 3.98 million new subscribers, that was sharply below the 15.8 million subscribers added in Q1 2020. Netflix also eroded investor confidence by stating it only expects to add about a million subscribers in the current quarter.