Netflix Stock Taking Beating As 3Q Subscriber Numbers Weak

Netflix shares are currently down more than 18% in after-hours trading after the company reported 3Q earnings that beat Wall Street estimates in revenue and earnings per share. But the problem for investors is that the number of fleeing subscribers was even higher during the quarter than even Netflix anticipated when it revised down its guidance for the period owning to its recent missteps that included a price hike the splicing and re-splicing of its streaming and mail services. Stay tuned for the full numbers, but it’s wild to see Netflix stock drop below $100 as we speak.