Netflix is getting whacked after adding fewer subscribers than expected

Markets Insider

• Netflix missed Wall Street expectations for new streaming customers on Monday, sending its stock plummeting.
• The company said it earned $0.85 cents a share, topping the Wall Street consensus of $0.79.
• Follow Netflix's stock price in real-time here.

Shares of Netflix plunged more than 13% Monday after the streaming giant reported second-quarter subscriber growth that missed Wall Street expectations.

Netflix said it added a total of 5.14 million streaming customers, missing the 6.27 million addition that Wall Street analysts were expecting.

Meanwhile,revenue fell just short of expectations, coming in at $3.91 billion ($3.94 billion expected). The news wasn't all bad, however, as Netflix earned $0.85 a share, topping the $0.79 consensus.

"We had a strong but not stellar Q2, ending with 130 million memberships," Netflix said in a letter to shareholders. "Internet video is growing globally and we are fortunate to be one of the leaders. In addition to succeeding commercially, we are starting to lead artistically in some categories, with our creators earning enough Emmy nominations this year to collectively break HBO's amazing 17-year run."

Netflix is was up 108% this year ahead of its second-quarter results.