Monday, July 24, 2006
NetFlix Plunges
NetFlix shares tumbled today after the company reported its second quarter earnings with better-than-expected profits. Apparently earnings aren't enough in today's market: REVENUES are key! NetFlix's revenues came in below analyst estimates at $239.40 instead of $242.50 million. Analysts expect low performance for the third quarter and 2006 as a whole.
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