Monday, October 24, 2011

Dan Frommer on Netflix's Woes

Netflix loses 800k subscribers and another 20% in stock price:

Netflix’s nightmare Q3 is in the books. And shares are getting hammered after-hours — down more than 20% — as the company says it expects to lose more U.S. streaming subscribers next quarter because of its price increases and DVD split-up. Including tonight’s action, Netflix shares have now lost more than 2/3 their value since mid-July, which is pretty crazy. Many details in Netflix’s letter to shareholders (PDF).

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