Netflix Inc said inflation, the war in Ukraine, and fierce competition contributed to a loss of subscribers for the first time in more than a decade.

The company also predicted deeper losses, marking an abrupt shift in fortune for a streaming company that thrived during the pandemic.

The company said it lost 200,000 subscribers in its first quarter, falling well short of its forecast of adding 2.5 million subscribers.

Suspending service in Russia after the Ukraine invasion took a toll, resulting in the loss of 700,000 members.

Wall Street sent Netflix’s stock tumbling 26% after the bell on Tuesday and erased about $40 billion of its stock market value.

Since it warned in January of weak subscriber growth, the company has lost nearly half of its value.

The lagging subscriber growth is prompting Netflix to contemplate offering a lower-priced version of the service with advertising, citing the success of similar offerings from rivals HBO Max and Disney+.

“Those who have followed Netflix know that I’ve been against the complexity of advertising, and a big fan of the simplicity of subscription,” said Netflix CEO Reed Hastings. “But, as much as I’m a fan of that, I’m a bigger fan of consumer choice.”

Netflix offered a gloomy prediction for the spring quarter, forecasting it would lose 2 million subscribers, despite the return of such hotly anticipated series as “Stranger Things” and “Ozark” and the debut of the film “The Grey Man,” starring Chris Evans and Ryan Gosling.

Wall Street targeted 227 million for the second quarter, according to Refinitiv data.

The downdraft caught other video streaming-related stocks, with Roku dropping over 6%, Walt Disney falling 5% and Warner Bros Discovery down 3.5%.

Hastings told investors that the pandemic had “created a lot of noise,” making it difficult for the company to interpret the surge and ebb of its subscription business over the last two years.

Now, it appears the culprit is a combination of competition and the number of accounts sharing passwords, making it harder to grow.

“When we were growing fast, it wasn’t a high priority to work on,” Hastings said of account-sharing in remarks during Netflix’s investor video. “And now we’re working super hard on it.”

Netflix’s first-quarter revenue grew 10% to $7.87 billion, slightly below Wall Street’s forecasts. It reported per-share net earnings of $3.53, beating the Wall Street consensus of $2.89.

While the company remains bullish on the future of streaming, it blamed its slowing growth on a number of factors, such as the rate at which consumers adopt on-demand services, a growing number of competitors and a sluggish economy.

Account-sharing is a longstanding practice, though Netflix is exploring ways to derive revenue from the 100 million households watching Netflix through shared accounts, including 30 million in the United States and Canada.

This confluence of factors resulted in Netflix reporting losing customers for the first time since October 2011, catching Wall Street by surprise.

“They suffered from a combination of approaching saturation, inflation, higher pricing, the war in Ukraine and competition,” said Wedbush analyst Michael Pachter. “I don’t think any of us expected that all to happen at once.”

The world’s dominant streaming service was expected to report slowing growth, amid intense competition from established rivals like Amazon.com, traditional media companies such as the Walt Disney and the newly formed Warner Bros Discovery and cash-flush newcomers like Apple Inc.

Streaming services spent $50 billion on new content last year, in a bid to attract or retain subscribers, according to researcher Ampere Analysis.

That’s a 50% increase from 2019, when many of the newer streaming services launched, signaling the quick escalation of the so-called “streaming wars.”

Netflix noted that despite the intensifying competition, its share of TV viewing in the United States has held steady according to Nielsen, a mark of subscriber satisfaction and retention.

As growth slows in mature markets like the United States, Netflix is increasingly focused on other parts of the world and investing in local-language content.

Tristan Thompson just can’t seem to leave Khloé Kardashian alone — despite continuously cheating on her.

Although they split several weeks ago amid some more public embarrassment, Tristan Thompson left a flirty comment on ex Khloé Kardashian’s latest Instagram post.

The post features a throwback photo of the Keeping Up with the Kardashians alum, 37, standing on the beach in a sheer blue long-sleeved bodycon dress. In the caption, she wrote: “Day dreaming of being here ?”

The Boston Celtics player, 30, commented several heart-eyed emojis under the snap, despite having split with the reality star last month.

PEOPLE confirmed in June that Kardashian and Thompson had called it quits once again.

According to TMZ and the New York Post’s Page Six, which first reported the breakup, the couple split after Instagram model Sydney Chase claimed in April that she slept with Thompson last fall while he was with Kardashian.

(Thompson’s lawyer denied the allegations at the time, according to TMZ.) The news of the split also came on the heels of a Daily Mail report that Thompson was seen partying with multiple women in Los Angeles.

A second source told PEOPLE that Kardashian is focusing on the positive as the exes continue to co-parent their daughter True.

“Khloé is doing okay. True will always be her first priority and ultimately she’s focused on a healthy family for her daughter, so Tristan will always be a part of Khloé’s life,” the second source said.

The second source continued, “She’s not one to dwell on the past — she has an incredible capacity to find the positive in every situation. And she and Tristan are still very much in touch and are great co-parents to True.”

Nigerian Cross dresser, Bobrisky via his Instagram page sent a heartfelt condolence message to his former boss, Toyin Lawani, on the passing of her father.

Toyin recently lost her father and he was buried on Thursday, April 8.

Bobrisky and Toyin have never hidden their dislike for each other as they have on numerous occasions dragged themselves mercilessly online.

However, on hearing about the passing of her father, Bobrisky took to his IG page to send her a condolence message.

He however pointed out that the condolence message doesn’t mean that they have stopped fighting. See his post below