Netflix adds more than 10 million new subscribers and names Sarandos co-CEO, but stock is tanking
July 16, 2020 at 16:19 PM EDT
Netflix Inc. logged another blockbuster quarter Thursday with the addition of 10.1 million new paid subscribers and a significant jump in revenue, and rewarded one of its most important executives with a promotion, but shares declined in after-hours trading on fears of slowing growth and a miss on profit.
