Netflix shares fall 6% over subscriber growth worries after Covid-19 lockdowns

The world’s largest paid streaming service added just 2.2 million new subscribers in the third quarter. File image

Shares in Netflix tumbled after missing Wall Street’s estimates for subscribers, renewing doubts about its ability to maintain growth after the pandemic lockdowns and competition intensifies.

The world’s largest paid streaming service added just 2.2 million new subscribers in the third quarter, it said. That was well short of the 3.32 million predicted by analysts, as well as the company’s own more conservative projection.