Tech

Netflix’s share price is having its worst day in two years

After releasing lacklustre second quarter results late last night, Netflix is on track for its worst-performing day on Wall Street in two years.

The streaming giant's share price was down 13 per cent as markets opened, having dropped as much as 14 per cent in after-hours trading.

The move makes today its biggest one-day drop since July 2016, when it fell 13 per cent after a similar earnings report featuring lower than expected subscriber numbers.

Netflix revealed in a regulatory filing yesterday that it had added 5.2m subscribers to its platform over the second quarter, missing analyst expectations by around a million.

Read more: Netflix's share price slumps 14 per cent after disappointing second quarter

Its share price fell as low $344 in the first 30 minutes this afternoon, before regaining slightly. Netflix's shares are currently down 8.78 per cent at $364.38.

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