Netflix reports weaker-than-expected new subscriptions in the second quarter

Has the bubble finally burst on Netflix?

Netflix shares tumbled more than 14 percent in after-hours trading on Monday after the streaming giant missed its second-quarter growth forecast by more than a million subscribers.

In the third quarter, Netflix expects to add 5 million subscribers - 650,000 in the U.S. and 4.35 million internationally.

Netflix's stock got hammered after the bell after reporting that it added far fewer subscribers in the second quarter than Wall Street was expecting - and warned of another subscriber shortfall to come in the third quarter. Wall Street watches them closely and even a slight miss can...

Meanwhile, technology rivals such as Apple are upping their content efforts.

Rush Limbaugh Ravages US Media Over Coverage of Trump-Putin Summit
The Republican rebuke from Capitol Hill came largely from those lawmakers who have been willing to openly criticize the president. Responding to reporters questions on the Russian Federation investigation, President Donald Trump said there was "no collusion".

Netflix posted its earnings report for the June quarter today and revealed that it added 5.15 million subscribers for the quarter.

Netflix said it made a profit of $384 million on revenue of $3.9 billion in the recent quarter, compared to net income of $66 million on $2.8 billion in revenue in the same period previous year.

Netflix has spent billions of dollars on original content, backing films or shows from creators from a gamut of countries and cultures as it strives for broad appeal as a global television service.

A call with executives was scheduled for the evening of July 16.

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