Netflix added fewer U.S. subscribers than it expected in the fourth quarter amid heightened streaming competition. Shares fell after hours.
Netflix Inc. missed its forecast for subscriber growth in the U.S., a performance that comes as the streaming giant faces heightened competition from a gaggle of rivals.
Netflix said Tuesday that it added 423,000 domestic subscribers in the fourth quarter, compared with the third quarter. In October, the company based in Los Gatos, Calif., had forecast an increase of 600,000 subscribers in the U.S. for the latest period.
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