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Subscription Services Show Mixed Results | Business and Finance News
Description
Consumer subscription stocks had a rollercoaster first quarter—revenues beat forecasts by 1.6%, but next-quarter outlooks disappointed, dragging the sector down 4.3%. Chegg plummeted 5.8% despite beating estimates, as revenue slumped 48% YoY. Roku soared 20.4% with a 22% revenue jump and bullish guidance. Netflix’s stock tumbled 31% after missing EPS guidance despite a 16.2% revenue gain. Bumble slid as revenue dropped 14.1%. Match Group edged up 1.4%, beating both revenue and EBITDA targets. The sector’s performance? Wildly uneven.
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