LOS ANGELES, July 19 (Reuters) - Streaming video pioneer Netflix (NFLX.O) disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading.
Netflix has been looking for new ways to make money as streaming competition intensifies and it nears market saturation in the United States.
Its nearly 6 million subscriber additions outpaced the 1.9 million that Wall Street expected.
Quarterly revenue climbed 2.7% from a year earlier to $8.2 billion, shy of analyst forecasts of $8.3 billion.
Netflix said its advertising tier remained a small part of its membership base and that current ad revenue is not material.
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