Home > Views > Blogs > Tech Observer > Netflix Shares Drop After Weak Q4 Predictions
EMAIL
PRINT
RSS
SHARE
TEXT SIZE:
SHARE
Send a copy to me

Separate multiple email addresses (max 20) with commas.

0/1500

Main
Ebay's Mass Layoffs and Shopping Spree   Digital Revenue Countering Ad Pages ...
Oct 6 2008 11:30AM EDT

Netflix Shares Drop After Weak Q4 Predictions

Wired logo

A report that Netflix's fourth-quarter revenue and subscriber figures will fall short of expectations has caused shares in the online DVD rental company to drop 10 percent in pre-market trade.

Netflix is scheduled to report third-quarter results on October 20th, but says the number of subscribers will be just below the low ended predictions at 8.672 million.  Income and revenue are expected to be in line with previous estimates.

"Net subscriber growth in July was in line with expectations but August was unusually weak", said CFO Barry McCarthy. "In September, the business regained momentum with results slightly below original expectations, likely due to the economic climate."

By Chris Snyder for Wired.com

Also on Wired.com:
Digital Revenue Countering Ad Pages Lost at Top Magazines
Radiohead, Billy Bragg, Others Join to Demand Fair Treatment
Remix Sarah Palin

Subscribe to Wired magazine
See more in

Loading...

Add Your Comment

Required fields are marked with an asterisk (*)
Add a comment

Archive

Previous
Dec
2008
Next


Also in Portfolio.com
Most Read
Most Emailed
Recently Commented