Netflix Shares Plummet Following Third Quarter Report
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Netflix(NEW YORK) — Netflix took a hit from investors Wednesday after reporting worse-than-expected subscriber growth in the U.S.
Shares of the company plunged 25 percent in after-hours trading upon news that Netflix only added 980,000 streaming customers in the third quarter, falling short of its expectations.
Last year during the same time period, the company added nearly 1.3 million customers.
Netflix said price increases were partly to blame for the disappointing growth.
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