Re: Netflix hikes prices for DVDs + streaming
Subscriber Loss Worse Than Expected
Subscriber Loss Worse Than Expected
Netflix reported 21.45 million streaming subscriptions at the end of the third quarter and 13.9 million DVD subscribers. The company said total U.S. subscriber base by the end of its third quarter was 23.79 million—below expectations of roughly 24 million. Netflix lost 810,000 subscribers between the second and third quarters.
Through the close today, Netflix shares had fallen 60% from their peak in July, before they announced a botched and abandoned plan to split into two companies.
In after-hours trading, Netflix shares were trading around $100, off $18.84, or 16%.
Through the close today, Netflix shares had fallen 60% from their peak in July, before they announced a botched and abandoned plan to split into two companies.
In after-hours trading, Netflix shares were trading around $100, off $18.84, or 16%.
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