Netflix defines its future this week 1:10
(CNN) --
Netflix reported Tuesday that it lost 970,000 subscribers in the second quarter of 2022, well below its own forecasts, which had projected the streaming giant would lose 2 million subscribers.
Investors were clearly pleased with the results.
Shares of Netflix rose 8% on Tuesday in after-hours trading.
Netflix said it would add another 1 million subscribers in the third quarter, which was slightly lower than Wall Street's expectations.
So, with Wall Street, Hollywood and the media world all focused on Netflix's subscription numbers, the company momentarily stopped the bleeding during a nightmarish year.
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