Blaming Russia's war in Ukraine seems to be the new excuse for everything.
It's going to be mentioned in every earnings call from now on, and it's almost always going to be a bogus excuse.
It's going to be mentioned in every earnings call from now on, and it's almost always going to be a bogus excuse.
The important part is subscriber loss in other countries and the projection that over 2 million more subscribers will be lost over the next quarter. Compared to a previous estimate that the company would see a net increase in subscribers by 2.5 million last quarter, that's a big letdown and the market's reaction would have been the same even if the Russia numbers weren't bad.