Netflix misses targets with only 1.75m new subscribers

Netflix shares shares fell in after-hours trading 

Netflix got off to a slow start to the year, missing analysts' estimates after adding only 1.75 million customers in the first quarter and stoking concerns about the future of the world’s most popular TV network. Investors were expecting 2.41 million new customers.

Netflix also predicted in earnings released on Tuesday night that it will generate lower sales and profit in the current quarter than what analysts forecast. The company delayed its plan to crack down on password sharing in the US. It sees new customers in the current period as “roughly similar” to the first quarter. Shares of Netflix fell as much as 12% in extended trading.