Netflix shares dive as subscriber growth falls short

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That compares with consensus estimates for 1.2 million and 5.04 million, respectively.

The company said it added 670,000 streaming customers in the US, below its guidance of 1.2 million new subscribers. Internationally, the company added 4.47 million new subscribers, short of its guidance for 5 million. While it's one thing for Netflix to fall short of Wall Street expectations, it's another matter entirely for Netflix to fall short of its own internal projections.

Netflix's subscriber numbers are seen as a bellwether of its fortunes.

Analysts had expected 79 cents on revenue of $3.94 billion.

Netflix shares dropped 14.05% to $344.21 in after-market trade, in a setback to the streaming juggernaut operating in some 190 markets around the world.

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The Netflix logo is shown in this 2014 illustration photograph.

Netflix's stock got hammered after the bell after reporting that it added far fewer subscribers in the second quarter than Wall Street was expecting - and warned of another subscriber shortfall to come in the third quarter. This is a testament to the fantastic creators we work with across all forms of television.

A significant chunk of subscriber growth can be attributed to Netflix's original content efforts.

In the third quarter, Netflix expects to add 5 million subscribers - 650,000 in the USA and 4.35 million internationally.

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