Netflix Falls Short of Subscriber Goals, But Nears 222 Million Customers

Netflix on Thursday reported it has 221.84 million global paid subscribers as of the end of the fourth quarter of 2021.

That barely missed the streaming giant’s goal of 222 million subs by the end of the year and sent the streaming giant’s stock tumbling more than 10% in after hours trading.

Netflix added 8.3 million subscribers during the quarter, which was slightly below their forecast of 8.5 million new memberships.

Revenue for the quarter was $7.7 billion in line with Wall Street expectations.

More to come…