Netflix US streaming subscribers down 126k in 2Q 2019

LOS GATOS, Calif. — Netflix, Inc. (NASDAQ: NFLX) has released its second-quarter 2019 financial results.

Revenue growth accelerated 400 basis points to 26%, and operating income increased 53% year over year in Q2. Paid membership grew by 2.7 million, less than the 5.5m in Q2 a year ago and the company’s forecast of 5.0 million. In Q3, Netflix expects to add 7 million paid memberships, more than the 6.1 million in Q3 a year ago.

International paid memberships were up 2.825 million in the second quarter whereas paid memberships in the U.S. fell by 126,000.

Streaming memberships (in thousands)

                Mar. 31,  June 30,  Sep. 30,  Dec. 31,  Mar. 31,  June 30,  Sep. 30,  Dec. 31,  Mar. 31,  June 30,
                    2017      2017      2017      2017      2018      2018      2018      2018      2019      2019
                --------  --------  --------  --------  --------  --------  --------  --------  --------  --------
Paid memberships at end of period
 Domestic         49,375    50,323    51,345    52,810    55,087    55,959    56,957    58,486    60,229    60,103
 International    44,988    48,713    52,678    57,834    63,815    68,395    73,465    80,773    88,634    91,459
Total             94,363    99,036    104,023  110,644   118,902   124,354   130,422   139,259   148,863   151,562

Paid net membership additions
 Domestic          1,470      948      1,022     1,465     2,277       872       998     1,529     1,743     (126)
 International     3,803    3,725      3,965     5,156     5,981     4,580     5,070     7,308     7,861     2,825
Total              5,273    4,673      4,987     6,621     8,258     5,452     6,068     8,837     9,604     2,699