SAN FRANCISCO (AP) — Netflix is bracing for a slowdown in its subscriber growth amid changes in the online video subscription service that will raise rates by as much as 60 percent for many customers.
The company issued the forecast Monday as part of a second-quarter earnings report that exceeded analyst estimates.
Netflix Inc. expects to add 190,000 to 1.29 million subscribers in the current quarter ending in September. The company gained 1.8 million customers in the second quarter to end June with nearly 25.6 million subscribers.
Netflix earned $68 million, or $1.26 per share, in the April-June period. That marked a 57 percent increase from $43.5 million, or 80 cents per share, at the same time last year.
Revenue climbed 52 percent from the same time last year to $789 million.