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Zoom posts big quarter even as subscriber growth slows

Zoom posts big quarter even as subscriber growth slows

Technology
Zoom’s astronomical growth is tapering off along with the pandemicBy MICHAEL LIEDTKE AP Technology WriterMarch 1, 2021, 11:51 PM• 4 min readShare to FacebookShare to TwitterEmail this articleSAN RAMON, Calif. -- Zoom’s astronomical growth is tapering off along with the pandemic, raising questions about whether the videoconferencing service’s immense popularity will fade as more people return to classrooms, offices and other places that have been off limits for the past year.The deceleration emerged in an otherwise impressive quarterly earnings report released Monday. The stellar results capped a year in which Zoom’s name became synonymous with the way millions of people have been forced to gather in online video panels while being corralled at home.Although Zoom continued to enjoy robust g...
Netflix shares sink 10% as subscriber take-up slows

Netflix shares sink 10% as subscriber take-up slows

Business
Netflix added fewer paid subscribers than expected in the last three months, with the streaming service blaming price rises. Shares in the company sank 10% after Netflix added 2.7 million new customers worldwide in the April-June period, well below expectations."Our missed forecast was across all regions, but slightly more so in regions with price increases," it said.It comes as competition increases from rivals such as Walt Disney and Apple.The company, behind such hits at The Crown and Orange is the New Black, said in its statement: "We don't believe competition was a factor since there wasn't a material change in the competitive landscape during [the second quarter] and competitive intensity and our penetration is varied acros...
Netflix shares plunge as subscriber growth stalls

Netflix shares plunge as subscriber growth stalls

Business
Netflix shares plunged by more than 14% in after-hours trade on Monday, after the firm reported disappointing subscriber growth.Netflix said it added 5.2 million subscribers in the three months to the end of June, the same number it did during the period last year.The streaming service had forecast growth of 6.2 million.The decline in share price follows a successful run for the stock, which had roughly doubled so far this year.The firm's shares ended Monday's trading session at $ 395.80, but tumbled by 14% after the market closed, as investors digested the firm's quarterly results.Investors are worried about Netflix's growth potential in the face of increased competition from tech giants such as Apple, YouTube and Amazon, as wel...