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Netflix blames churn, competition for missed targets, dive in profits

Published Thu, Oct 15, 2015 · 09:50 PM

New York

NETFLIX has hit a bump in the road as it pushes ahead on its quest to reach 60 million to 90 million subscribers in the US and, by the end of 2016, become fully global.

The company said on Wednesday that third-quarter profit tumbled 50 per cent compared with last year, missing its forecasts as it reported worse-than-expected streaming growth in the US.

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Consumer & Healthcare

Netflix blames churn, competition for missed targets, dive in profits

Consumer & Healthcare

IndoAgri appoints former EDB chairman Philip Yeo as chairman and lead independent director

GSK profit drops 23% in Q1 on higher costs

Starbucks points to weaker consumer as profit falls

Restaurant Brands tops estimates as Burger King overhaul pays off

Walmart to shut all health centers in US over lack of profitability

Coca-Cola raises annual sales forecast on global demand, higher prices

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