Why Netflix's Stock Is Getting Crushed

Netflix exceeded its own projections for subscriber growth after rolling out its streaming video service in 130 additional countries in the first quarter of the year.

The company added 4.5 million international subscribers during the quarter; it had projected adding only 4.3 million. In the U.S., Netflix added 2.2 million subscribers, beating its own projections of 1.7 million new members. Overall, the service now has more than 77 million paying members globally.

Revenues for the quarter totaled $1.