(CNBC) -- Investopedia defines a “correction” as a “decline of 10% or greater in the price of a security, asset, or a financial market.”
This was Netflix’s correction quarter.
Shares slumped more than 10% after hours after Netflix announced it had added just under 4 million subscribers in the first quarter — missing the company’s forecast of 6 million. Netflix also said it expected a mere 1 million paid net additions for the second quarter. To put that in perspective, Netflix added 10 million subscribers in last year’s second quarter.
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