Netflix Shares Plunge Again

0
0
Subscribe To:

Netflix's first-quarter earnings filing received a mixed reception from analysts on Monday. Several shook their heads over the increased costs to expand internationally and to acquire -- and in some cases produce -- first-run television shows, costs that produced the company's first quarterly loss. Others, however, noted that the company appears to be attracting additional subscribers for its streaming service while reducing the number who prefer receiving discs in the mail. "We're feeling good about the progress we have made, but are conscious of the fact that it's tender and that we have to be extremely diligent and thoughtful as we build back up our brand reputation," Netflix founder and chief Reed Hastings said in a statement. But investors signaled that they were not happy. By midday today, Netflix shares had fallen 12 percent to $88.49 after closing on Monday at 101.84. "Netflix Tanks Again As Wall Street Freaks Out About Growth Forecast," headlined analyst Henry Blodget's The Daily Ticker . He quoted Felix Almon of Reuters as saying that "No matter how large Netflix gets, it will be forced to pay top-dollar for the movies and TV shows that its subscribers want to watch, and these royalty payments will eat up all of its profits."

24/04/2012


Contactmusic

Tags: Wall Street

0
0
Subscribe To:
Advertisement

More Wall Street

Miley Cyrus Covers Up More Than Usual At FGI Night Of Stars Gala - Part 2

It truly was what it said on the tin at the Fashion Group International's 30th Annual Night Of Stars held at Cipriani Wall Street in...

Leonardo DiCaprio Shoots Scene On Wolf of Wall Street Set

'Inception' actor Leonardo DiCaprio is snapped shooting a scene on the set of his upcoming crime drama movie 'Wolf of Wall Street'. He is seen...

Advertisement

Sean Lennon And Friends Cover Material Girl At Occupy Wall Street

Singer songwriter and film scorer Sean Lennon; his girlfriend Charlotte Kemp Muhl; Charlotte's childhood friend Eden Rice; Rufus Wainwright and Dustin Hamman serenade the crowd...

Sean Lennon Snaps Occupy Wall Street Protestors

Singer songwriter Sean Lennon, his girlfriend Charlotte Kemp Muhl, and Charlotte's childhood friend Eden Rice (who is seen sitting in the background) visit the Occupy...

Advertisement

Comments

Wall Street Newsletter

Subscribe to this news alert service to receive news and reviews on Wall Street

Unsubscribe | Unsubscribe All