Netflix Misses Where It Counts: International Subscriber Guidance Whiffs By 40%

Netflix, Inc. NFLX shares are down 10 percent in Monday's after hours session and fell as low as the $92 range amid some very disappointing guidance numbers.

Allow Benzinga Pro headlines to tell the story:

4:06:18pm: Netflix Reports Q1 Adj. EPS $0.06 vs $0.03 Est

4:06:52pm: Netflix Reports Q1 Sales $1.958B vs $1.97B Est.

4:07:51pm: Netflix Sees Q2 EPS ~$0.02 vs $0.05 Est., Sales for Total Streaming ~$1.96B (When the selloff began.)

04:10:16pm: Netflix Sees Q2 Subscriber Additions ~2.5M (It gets worse).

04:10:55pm: Netflix Forecasts 2M International Subscriber Adds In Q2 Vs. 3.45 Consensus (Peak Downside).

That was a rough string of events. Netflix missed second quarter international subscriber guidance by 40 percent, blaming Australia and New Zealand. According to readers, that's the most important figure for the stock.

While the IR site didn't fail like it has in the past, poor subscriber guidance hurts Netflix where it counts -- the future growth prospects of the company.

Commentary on China wasn't great either. "We are continuing discussions but have no material update on our approach or timing," the company said.

Netflix shares are bouncing off their lows in Monday's after-hours session but are below $100 for the first time since late March.