Netflix considers Canada a "strong" market. And while growth has slowed, our nation remains dedicated to the streaming video service.
“Two years have passed since launch and our subscriber growth is steady to slightly accelerating,” the company said. “Both retention and engagement are high among our Canadian members.”
Netflix is now present in more than 10% of Canadian homes. Canadians spend over three million hours per week watching movies and television on Netflix.
Globally, however, the company is failing to meet its own expectations. It reported only $8 million profit on revenue of $905 million (earnings down 88% from same quarter last year) and is off course for reaching its 2012 subscriber count goals.
Shares are down more than 15% in afterhours trading.