Netflix falls short of Q3 subscriber numbers, stock tanks by 26 percent

Netflix has released its Q3 earnings today, and investors are panicking. During the quarter, the company brought on an additional 3 million subscribers That bring’s Netflix’s total customer base to 53.1 million; CEO Reed Hastings says he expects to close out 2014 with 57 million global members. But he also acknowledged that the 3M number missed Wall Street expectations — and the company’s own forecasts. Netflix ended Q3 with 37.2 million US subscribers, which is short of its 37.6 million forecast. Looking internationally, Netflix now tallies 15.84 million subscribers, also well below its original 16.16M Q3 forecast. […] HBO creating a standalone streaming service was “inevitable” according to the Netflix CEO. But he clearly believes both companies can coexist, each making plenty of money, in the months and years ahead. – Chris Welch,The Verge 
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