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Video-streaming giant Netflix has reported a slowdown in subscriber growth, sending its shares tumbling.

About 3.98 million people signed up for Netflix between January and March, well short of the projected 6 million.

The company said a lack of new shows may have contributed to the fall, adding that it expected this to recover as sequels to hit shows are released.

Netflix shares fell 11% in after-hours trading to $489.28, wiping $25bn off the company’s market capitalization.

Byron

This post was originally posted on BBC News. Read the rest of the story at https://www.bbc.co.uk/news/business-56826190.

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