Netflix misses subscriber target
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Shares of Netflix Inc., the largest U.S. mail-order movie service, fell the most in more than five months after the Los Gatos, Calif., company said it signed up fewer subscribers in the third quarter than it expected because of an “unusually weak” August.
About 8.672 million people subscribed at the end of September, less than the company’s forecast of 8.675 million to 8.875 million, Netflix said. It also lowered its projection for fourth-quarter revenue and subscriber growth.
Netflix shares sank $2.48, or 8.6%, to $26.49.
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