Netflix loses subscribers for first time in 10 years – and expects to lose more

Streaming giant blames factors including increased competition, war in Ukraine and the number of people who share their logins

Netflix lost subscribers for the first time in 10 years at the start of the year and said it expects to lose even more in the spring, sending its share price crashing again on Tuesday.

The streaming giant's share price initially fell close to 20% on news that it had lost 200,000 subscribers globally during the first quarter. Wall Street had been expecting the company to add 2.5 million subscribers. Netflix expects to lose 2 million global subscribers in the current quarter.