Netflix just saw its first decline in paid U.S. subscribers since 2011. During the quarter, its paid subscriber base in the U.S. went from 60.2 million to 60.1 million.
The slight drop in Netflix’s U.S. subscriber base, combined with fewer-than expected international adds in the second quarter, sent the company’s stock (ticker: NFLX) tumbling 12% in after-hours trading Wednesday. The streaming company still reported better-than-expected earnings, but investors tend to focus on its subscriber trends and not much else. The company said it sees a return to subscriber growth in the third quarter.