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Netflix shares dive as subscribers fall

  • American shares of video streaming service Netflix dived on Wednesday, October 15, after reports of fewer subscribers than expected, according to media reports.

    In the third quarter, Netflix, which operates in around 50 countries, signed up 3.02 million customers worldwide, in comparison with the 3.69 million it had forecast in July.

    The shares plunged by up to 27% on Nasdaq. The company said a price hike in its monthly service was responsible for the lower subscriber numbers.

     

    Tagged as: shares, video streaming service, Netflix, subscribers Nasdaq, business news