Orange Is the New Black

Netflix shares tumble after missing subscriber target

Netflix shares tumble after missing subscriber target

Shares in Netflix fell sharply in after-hours trading on Monday after the streaming giant reported slower than expected subscriber growth in the second quarter.

Netflix added 1.7 million subscribers worldwide, well below the 2.5 million subscribers the company predicted it would add in the three-month period ending June 30. Netflix rolled out a new season of “Orange Is the New Black” and a second Adam Sandler film (“The Do Over”) during the quarter.

The Los Gatos, Calif. company posted second-quarter earnings of $41 million, or 9 cents a share, beating analysts’ expectations of 3 cents a share for the quarter. Revenue...

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