Image copyright Netflix
Netflix's The Crown received 13 Emmy nominations this year
Netflix shares plunged by more than 13% in after-hours trade on Monday, after the firm reported disappointing subscriber growth.
Netflix said it added 5.2 million subscribers in the three months to the end of June, the same number it did during the period last year.
The streaming service had forecast growth of 6.2 million.
The decline in share price follows a successful run for the stock, which had roughly doubled so far this year.
The firm's shares ended Monday's trading session at $395.80, but tumbled by more than 12% after the market closed, as investors digested the firm's quarterly results.
This was despite the streaming service reporting strong financial results.
Netflix reported $3.9bn in total revenue, up 40% compared to the second quarter of 2017.
Profits totalled $384.3m, almost six times the figure during the same period a year ago.
However, investors remain focused on the firm's growth potential, as measured by subscribers.
On that score, Netflix disappointed.
In the United States, it added 670,000 subscribersfar short of the more than one million it added in the second quarter of 2017.
It added 4.5 million subscribers internationally, up 8% year-on-year.
In a letter to investors, Netflix called it a "strong but not stellar quarter".
It said the United States subscriber trends were in line with previous quarters and ahead of 2017 for the year so far.
In its note to investors, Netflix pointed out a landmark achievement ahead of this year's Emmy'sit had, for the first time, earned more nominations than rival HBO. A huge stamp of approval for the firm's original content.
But critical acclaim is worthless to Netflix unless it translates into booming business. Growth is the only metric that really matters to the firm's investors, and so this is a big missreflected in the stock price tanking on Monday.
However, investors might be wise to not lose their headsthis disappointing earnings report comes off the back of two extremely strong quarters of comfortably beating expectations on adding subscribers.
Netflix said its strategy will be to "simply keep improving" as more players start to step up their efforts to muscle in on its turf.