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Netflix announces loss of nearly 1M subscribers in second-quarter earnings report

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Netflix shed almost 1 million subscribers during the spring amid tougher competition and soaring inflation that's squeezing household budgets.

Netflix knows you share your password. And soon you might have to start paying for the privilege.

And in a hopeful sign, Netflix management predicted its service will add about 1 million subscribers during the July-September period, signaling the worst of its slump may be over. Since then, other video streaming services have made big strides in attracting viewers, with Apple winning accolades for its award-winning line-up of TV series and films while Disney's popular line-up of family-friendly titles continues to gain traction.

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Netflix set to report Q2 earnings as number of subscribers plummets.Netflix is expected to report second-quarter earnings after Wall Street closes Tuesday.
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