Netflix shares slide 13% after quarterly results

Netflix Inc‘s stock sunk 13% in after-hours trade Monday, after the streaming company missed second-quarter subscriber expectations and provided an weaker-than-expected third-quarter outlook. The streaming giant announced it had added a net 5.15 million subscribers, below the FactSet consensus of 6.2 million. Net income for the latest quarter rose to $384 million, or 85 cents a share, up from $66 million, or 15 cents a share, in the same quarter a year ago, ahead of the FactSet consensus of 79 cents. Revenue rose to $3.907 billion from $2.785 billion the year before, just below the FactSet consensus of $3.938 billion. For Q3, the company expects adjusted EPS of 68 cents, below the FactSet consensus of 72 cents. Revenue for Q3 is expected to be $3.988 billion, below the FactSet consensus of $4.126 billion. Shares of Netflix have soared 109% in the year to date, while the S&P 500 has gained 4.7%.