The future doesn't look too hot for the streaming movie service and investors can smell it. Netflix had a surprisingly good third quarter, beating market expectation, but that's where the good news ends. The company reported its Q3 earnings Monday afternoon, reporting higher numbers than expected, explains AllThingsD's Peter Kafka. "A first look at Netflix’s Q3: Revenue of $822 million and earnings $1.16 a share," writes Kafka. "The Street was expecting around $811 million and about $0.94 a share." That sounds like good news for the company after months of missteps, right? Then, why did Netflix's stock fall 16 percent after the announcement? The company's fourth-quarter earnings and revenue forecasts didn't meet Wall Street expectations, reports MarketWatch. And subscription rates are down. Netflix has lost 800,000 subscribers since its price hikes and Qwikster back and forth, according to TechCrunch's Leena Rao. And the company doesn't expect to add too many subscribers in the next few months, continues Kafka. Netflix isn't done with its growing--er, shrinking?--pains quite yet.
The rocky earnings reports is only the latest in bad news for the company, but Netflix is not giving up. Ahead of the earnings news, there were these nuggets of info floating around the business press.
Netflix is actually getting bigger. In early 2012 Netflix will launch its service in the U.K and Ireland, reports The Guardian. This is the company's first move into Europe and comes almost exactly a month after the company opened up shop in Canada. Netflix also recently expanded to Latin America and the Caribbean.