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House of Cards (tv program)
Netflix Blames Missed Sub-Growth Targets on Price Increase, as Stock Gets Hammered

LOS ANGELES (Variety.com) - Netflix added 3.02 million overall streaming customers during the third quarter of 2014 -- well under its previous projection of 3.69 million for the period, as both U.S. and international growth failed to meet its forecasts. In after-hours trading, Netflix's stock plunged 26%, falling $118.59 per share to $330.00. The stock had closed down 0.1% in regular trading, to $448.59 per share. Netflix posted revenue of $1.41 billion, up 27% year over year and in line with analyst expectations. Net income of $59.3 million (96 cents per share) for the third quarter beating the Wall Street consensus EPS estimate of 92 cents. For the three months ended Sept. 30,...

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