Netflix sees fall in subscription additions in second quarter

Netflix Inc on Tuesday forecast a fall in global paid subscriber additions for the second quarter compared with a year earlier after reporting better-than-expected subscriber additions in the first quarter, sending its shares down 4 percent. The company now expects to add 5 million subscribers globally in the current quarter compared with 5.45 million that it had added a year earlier.

The company said it signed up 1.74 million paid subscribers in the United States, above the average analyst estimate of about 1.57 million, according to IBES data from Refinitiv. Netflix added 7.86 million paid subscribers internationally, compared with the average analyst estimate of 7.14 million.