The 200,000 subscribers loss came as one of the biggest surprises for the streaming video-on-demand company Netflix Inc’s (NASDAQ:NFLX) investors—sending its stock tumbling by 25 percent post the bell.
The Asia-Pacific market emerged as a glitter of hope amid this slump for Netflix. The company said that it added about 1.09 million paid members in the Asia Pacific (APAC) region during the first quarter, which was a decline from 2.58 million member additions in the December quarter—but remains better in comparison to other key regions, especially North America.
“We’re making good progress in APAC, where we are seeing nice growth in a variety of markets, including Japan, India, Philippines, Thailand, and Taiwan. Over the longer term, much of our growth will come from outside the US,” Netflix said in the shareholder letter.
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