Netflix Falls as Price Increase Reduces New Customer Growth
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Netflix Inc., the mail-order and online film-rental service, tumbled after its third-quarter sales and profit forecast missed analysts’ estimates and the company said a price increase was crimping new-user signups.
Netflix fell $14.62, or 5.2 percent, to $266.91 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have retreated 12 percent from the high of $304.79 set two weeks ago.