>> Netflix may have churned out big hits like Bird Box and the TV series You. But it missed Wall Street's revenue expectations on Thursday, pushing shares of the streaming service down more than 4% in after-hours trading. Reuters Correspondent Lisa Richwine.>> Investors are used to Netflix having a blowout quarter.
They did add a record number of subscribers this quarter. But they didn't quite meet expectations on all of the numbers that Wall Street looks at this quarter.>> But Netflix is up 30% so far this year.>> Open your eyers, open your eyes.>> No surprise, considering Netfix estimates that Bird Box, starring Sandra Bullock, will have been watched by over 80 million member households in its first four weeks.
And its new show, You.>> It scares me to love someone so completely and not have them love you back.>> Will have an estimated 40 million member households clicking in in the same amount of time. But production for those shows doesn't come cheap. Its aggressive spending on content has coincided with a doubling of the company's debt.
>> One of the biggest concerns about Netflix is that they are billions of dollars in debt. They've been borrowing a lot of money to pay for programming like Bird Box or Stranger Things. And Wall Street is looking at whether they're bringing in enough revenue to keep that spending going and to lure in more customers to keep growing around the world.
>> Netflix raised the subscription price by $2 a month earlier this year in an effort to help cover some costs. And it'll need all the blockbusters it can make as it faces continued competition from Amazon Prime Video and Hulu. And the new kid on the block, Disney, will also be vying for your attention.