Netflix Stock Falls 25% After Missing Subscriber Growth Numbers


Netflix's rough day just got even worse.

Netflix revealed that it missed its own subscriber forecast for the September quarter, adding fewer than one million new members (980,000) domestically and two million internationally. It ended the quarter with 37.2 million domestic subscribers and just more than 53 million members globally.

"This quarter we over-forecasted membership growth," the company's CEO Reed Hastings and CFO David Wells wrote in a letter to investors included with the earnings release

The news helped send Netflix stock down by more than 20% in after hours trading Wednesday, effectively shaving $100 off the stock price Read more...

More about Netflix, Stocks, and Business Go to Source