Netflix (NASDAQ:NFLX) reported earnings yesterday after the bell, and Mr. Market's none too pleased; shares have fallen by as much as 5% today. Netflix only added 630,000 subscribers in the U.S., and that number came in well below investors' expectations. Does underwhelming growth suggest Netflix's content strategy is a failure, or is there more to this story? Motley Fool analyst Jason Moser examines the earnings and tells investors why it's not time to fret -- yet.

Erin Kennedy has no position in any stocks mentioned. Jason Moser owns shares of The Motley Fool recommends and Netflix. The Motley Fool owns shares of and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.