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Netflix shares plunge 37 percent after announcing subscriber losses.


For the first time in a decade, Netflix lost subscribers — 200,000 overall in the first three months of the year — the result of shifting economic forces, increasingly fierce competition from other streaming platforms and the conflict in Ukraine. The announcement, plus the company’s warning that it expected to lose two million subscribers in the second quarter, sent the stock down about 37 percent in trading Wednesday morning.In a letter to shareholders, Netflix attributed its subscriber loss to a number of factors, including a slowdown in the adoption of broadband and smart TVs; password sharing among households; and increased competition from both traditional cable and broadcast TV and other emerging streaming services. It also cited macroeconomic factors including increased inflation and Russia’s invasion of Ukraine, which prompted Netflix to shut down …

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