Netflix has shrugged off the competitive threat posed by Apple and the Walt Disney Co., both of which unveiled rival subscription streaming services in recent weeks by DawnC331
Netflix shrugged off the competitive threat posed by Apple and the Walt Disney Co., both of which unveiled rival subscription streaming services in recent weeks.
The company forecast slower growth in the second quarter, prompting the stock to drop nearly $5 a share in after-hours trading to $354.60. This guidance takes into account the impact Netflix's rate increase in the U.S., which is moderating growth in the spring quarter, the company said. Netflix represents only about 10% of total TV usage in the U.S., its most mature market, Hastings noted, and there's more room to grow around the world.
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