Netflix Falls Most in 2 Years on User Slowing, HBO Web Offer
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Netflix Inc. tumbled the most in more than two years after saying a price increase slowed subscriber growth, while coming competition from HBO gives the world’s largest subscription-streaming service a new challenge.
Netflix slid 19 percent to $361.70 at the close in New York, the biggest drop since July 2012, after reporting third-quarter user numbers yesterday that fell short of its forecast. The Los Gatos, California-based company blamed a recent $1 price increase for the shortfall, and offered a guarded outlook for this period.