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Netflix may have trouble reaching its target for the year for new subscribers. This outlook has disappointed Wall Street and sent Netflix’s shares down nearly 16 percent.
The company thinks that the Olympic games will compete for their customers time and hurt its ability to bring in new customers. If they do not make the amount that they thought they would for the quarter, it may be hard for them to reach their goal of 7 million new subscribers for 2012. About a year ago, Netfix had earnings of $1.29 a share for the quarter and watched … Read more at Netflix Free TrialsRead the rest of this entry »