SAN FRANCISCO - Netflix shares dived on Thursday after the leading streaming entertainment service reported relatively flat quarterly profits despite rising subscriber numbers.
Netflix reported a profit of $720 million on revenue of $6.1 billion in the recently ended quarter, compared with $709 million profit on $5.8 billion in revenue during the first three months of the year.
Shares quickly dove more than 10 percent in after-market trades that followed release of the earnings figures. "There is no one-size-fits-all approach, and we're adapting to local circumstances. Today, we're slowly resuming productions in many parts of the world."
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