📉 Netflix shares fall due to disappointing revenue forecast and cancellation of quarterly membership numbers! 🎬

Shares of Netflix $NFLX see a drop of more than 8 %, after the company released a second-quarter revenue estimate that missed expectations and announced the cancellation of quarterly subscriber count figures that Wall Street is watching closely.

Yesterday Netflix reported second-quarter revenue expectations of $9.49 billionwhich was below consensus estimates of $9.51 billion.

Netflix also announced that it will stop publishing quarterly member numbers and average revenue per member starting next year.

"Given our move from a single pricing model to tiered plans with different pricing by country, each new paid membership has a completely different business impact," the company said.

Although Netflix fell short of its expectations for future revenue, yesterday it reported first quarter earnings that beat all expectations, adding more than 9 million subscribers.

New subscriber growth of 9.3 million exceeded expectations 4.8 million and continued the 13 million additions the company recorded in the fourth quarter. In the first quarter 2023 Added 1.7 million of new paid users by 2023.

First quarter revenue beat estimates of$9.27 billion to reach $9.37 billion. This represents a year-over-year increase of 14,8 %which was driven not only by price increases on some subscriber plans, but also by revenue initiatives such as password sharing restrictions and a new ad-supported model.

Currently, the stock Netflix are trading near the top of their 52-week high, and analysts at Wall Street are warning of possible risks from high expectations.

The company is projecting earnings per share of $4.68 in the second quarter, beating estimates.

Despite such nice numbers, the stock is down more than 8 % largely on lower second-quarter earnings estimates!

What's your take on the company Netflix $NFLX ? At what prices do you plan to buy/sell ?