Netflix Booed By Stock Market As Subscriber Base Weakens

Netflix Incorporated's subscriber growth and forecast fell short of Wall Street expectations Monday, sending shares of the normally high-flying stock tumbling by 14%. According to Reuters, the company’s total monthly customers reached 130 million worldwide--1 million fewer than forecast. In a quarterly letter to shareholders, Netflix said, “We had a strong but not stellar Q2," and claimed it had “over-forecasted” quarterly fluctuations in the pace of new customers.