Netflix Stock Plummets After Q3 Earnings (CHARTS)

10/25/2011 04:48 pm ET | Updated Dec 25, 2011
  • Craig Kanalley Senior Editor, Big News & Live Events, The Huffington Post

Netflix has had a rough few months. There was the price hike in July, split off of its DVD business, then the reunion of its DVD business. Now, it's the earnings.

On Monday, Netflix revealed it lost 800,000 subscribers in the third quarter, Mashable reports, leading to a 37 percent drop in the Netflix stock overnight.

The company projects more cancellations in the future and warned of mounting costs. It's also expects to face more competition in the future from the likes of Google and Amazon.

As TechCrunch notes, the Netflix stock has been in a downward spiral since July, and until then it was seeing "massive growth." Reuter's Felix Salmon explains why the Netflix stock is so volatile.

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