Share Prices Drop, Growth in Subscriptions Slows for Netflix
Netflix announced it expects slower growth in subscriptions Monday, causing its shares to drop 9 percent, The Wall Street Journal's Joan E. Solsman reports. Netflix said it was getting more expensive to win new customers, plus the number of people cancelling their subscriptions inched upward. Though the company added 1.8 million customers in the second quarter, it expects to add 700,00 subscribers in the third quarter, ending in September.
Read the full story at The Atlantic Wire.