"Netflix's Revenue Forecast Disappoints, Stock Sinks as Subscriber Numbers Dip"
Netflix stock dropped 8% after the company's second quarter revenue forecast missed estimates and it announced it would stop reporting quarterly subscriber metrics. The company reported first quarter earnings that beat expectations, with 9.3 million subscriber additions, but its revenue forecast for the second quarter fell short. Netflix also revealed plans to stop reporting quarterly membership numbers and average revenue per member, citing the impact of different pricing plans. Despite strong earnings and profitability metrics, the stock decline reflected investor concerns about the revenue outlook and the decision to scrap key membership metrics.