This post is by Anna Washenko from Ars Technica
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If you’ve been grumbling about the rising cost of your Netflix account, it seems you’re not alone. Netflix shared its second-quarter financial results and the company indicated that higher prices may have led to dips in the platform’s subscriber counts.
Revenue for the video streaming service totaled $4.92 billion in the second quarter, up 26% year-over-year. Net income was $271 million, with $0.60 earnings per share. Both those figures were down from Q2 in 2018 and from Q1 of 2019.
Netflix added 2.7 million paid members during the period, a big cut from the 5 million it expected to see and from the 5.5 million recorded in the year-ago quarter. “Our missed forecast was across all regions, but slightly more so in regions with price increases,” the shareholder letter read. The company insisted that competition from