Detailed text transcripts for TV channel - FOXNEWS - 20111025:15:08:00
Today it is down $42 a share. that is 35% plunge since it reported earnings last night. so what went wrong? well the earnings were stellar. they were up 63% versus a third quarter year ago. revenue up almost 50%. subscriber growth up 41%. what are you going to do with that? turns out the problem is what lies ahead. netflix lost 800,000 customers in the quarter and it is going to lose maybe 1 1/2 million online subs in the fourth quarter and maybe 3.1 million dvd subs. that is because the company ticked off its customers. in the summer it set up bold-faced 60% pricing increase to get dvd's and ...
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