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Netflix suffers first subscriber loss in a decade

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Reports say Netflix suffers first subscriber loss, and in a decade Wall Street sent the company’s stock tumbling twenty six percent after market hours, erasing about forty billion dollars of market value.

It says inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade and predicted deeper losses ahead, marking an abrupt shift in fortune for a streaming company that has thrived during the pandemic.

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