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UPDATE 2-Netflix's Nordic rival Viaplay logs much slower Q1 growth, shares slide [Yahoo! Finance]
Last netflix, inc. earnings: 4/21 04:00 pm
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US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
April 23 (Reuters) - Swedish video streaming company Viaplay said sales growth at its core operations slowed markedly in the first quarter due to price hikes, knocking its shares 7% lower. The group, grappling with waning demand as consumers struggle with the high costs of living, has lost more than half of its market value since the start of the year. After replacing its CEO and laying off 30% of its workforce last year, Viaplay unveiled a turnaround plan in December that included raising equity, restructuring debt, and focusing on its core Nordic, Dutch and Viaplay Select operations. The group, which competes with Netflix Inc and Walt Disney Co's Disney+, said sales from those operations grew 5.6% organically to 4.46 billion Swedish crowns ($410 million), far below 27.3% growth a year earlier. Viaplay also blamed user account sharing for the muted growth, estimating that about a third of its premium subscribers share their account details with other people. "Obviously tha
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