FILE PHOTO: Smartphone with Netflix logo is placed on a keyboard in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/
(Reuters) -Shares of Netflix tumbled more than 8% on Thursday after the video-streaming pioneer's lackluster revenue rise sparked concerns of a longer road to growth from its new initiatives.
The company added nearly 6 million subscribers in the second quarter - almost three times above Wall Street's expectations - thanks to a crackdown on password sharing and the introduction of a cheaper subscription tier that is bundled with advertising.
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