Netflix share price on track for biggest fall in nearly a decade

For the second time this year, Netflix shares fell sharply after the company disappointed investors

For the second time this year, Netflix shares fell sharply after the company disappointed investors

The streaming giant caught Wall Street off guard for the second quarter in a row

reporting a drop in subscribers for the first time in a decade.

he company blamed the quarter-over-quarter erosion to suspension of

its service in Russia due to Moscow's invasion of Ukraine

The drop in shares was reminiscent of the prior quarter,

when a weak subscriber outlook sent Netflix shares diving.

Netflix' plunge especially weighed on the Nasdaq, which was down 0.7 percent at 13,522.73.