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Netflix current-quarter forecast misses estimates

July 20 (Reuters) - Netflix Inc forecast third-quarter paid subscriber additions below Wall Street estimates on Tuesday, as the streaming giant faces intense competition from deep-pocketed players and the stay-at-home boost wanes.

The company said it expects to add 3.50 million paid subscribers in the third quarter, compared with analysts’ estimates of 5.51 million, according to IBES data from Refinitiv. (Reporting by Eva Mathews and Akanksha Rana in Bengaluru and Lisa Richwine in Los Angeles; Editing by Shounak Dasgupta)

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