In its third-quarter earnings report release on Tuesday, streaming giant Netflix beat many expectations, but still delivered some unwanted news to investors: viewer metrics, especially in the United States, could be better.

In the report, the company reported its slowest revenue increase in years, and also revised its outlook for the year, particularly upsetting investors by saying that it is now expecting $2.7 billion in ad revenue instead of the previously projected $3 billion.

Netflix’s position as the leading subscription-based streaming service worldwide has done little to quell investor fears that it is losing viewers to the likes of YouTube and TikTok. Its stock was down more than 40% this past year, per WSJ. The slide began when Netflix announced its now-failed intention to buy Warner Bros. Discovery, which is now a part of David Ellison’s Skydance instead. The latest earnings report didn’t necessarily help that downward trend by sending the stock down almost 6%.

Going into the report, investors were already worried about viewer metrics, and specifically something called view hours growth, the amount of time viewers spend watching stuff on Netflix. Executives addressed the investors’ concerns that view hours growth was slowing down on Tuesday, and vowed to up the numbers, particularly by revamping its programming in the United States. Netflix’s programming quality has been the source of intense criticism, particularly online.

“I know that we could do better, and we want to build on that momentum,” Netflix co-CEO Ted Sarandos said in the company’s earnings call.

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