Netflix subscriber forecast misses estimate as streaming war heats up

Netflix Inc missed Wall Street subscriber forecasts for the first quarter Tuesday, amid pressure from lower-cost services from Walt Disney Co and Apple Inc in the streaming video wars.

The streaming giant added more paying subscribers than Wall Street expected in the fourth quarter, beating international subscriber estimates but missing estimates for U.S. subscriber growth.

Netflix shares were up 1.5 per cent in volatile after-hours trading on Tuesday.

The company acknowledged that competitive pressure and a recent price hike impacted its US business, where subscriber growth fell short of analyst estimates.