Image: NetflixNetflix shares fell more than 9% in after-hours trading on Monday after it said growth of new subscribers would likely slow down in the coming months.
The video streaming giant forecast that it would gain 500,000 new users in the US and two million globally. But that goes against market forecasts of 586,000 and 3.5 million, respectively.
Netflix reported a profit of $28 million for the first quarter of 2016, with an estimated 81.5 million users around the world. It's profits were up by $4m on the same quarter last year.
Despite leading the video streaming revolution, Netflix has struggled to maintain its rapid growth in recent years, while struggling to make a significant profit. But it did gain more customers than expected in the final quarter of last year.
Last year, Netflix first announced plans to raise its prices in the US over the next 10 years in an attempt to increase profitability.
"We are rolling this out slowly over the year, rather than mostly in May, so we can learn as we go," the company said in a statement.
The company is currently expanding its service into 130 countries around the world. But with some countries receiving just 10% of the movies, TV programmes and documentaries available in places like the US and UK, growth in new markets is much slower.
