SAN FRANCISCO (AP) — This is a sequel that Netflix shareholders never wanted to see: The world’s largest Internet video service has once again turned off potential viewers with a price increase that is punishing the company’s stock price.
The backlash surfaced in a third-quarter earnings report that Netflix Inc. released Wednesday. Netflix’s subscriber growth lagged well below management forecasts, a shortfall that CEO Reed Hastings traced to a $1-per-month price increase imposed in the U.S. about five months ago.
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