Netflix Lowers Earnings Outlook
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The leader in online DVD rentals expects its profit to sag the rest of this year as it absorbs the cost of lowering its subscription plan to ward off a threat from Blockbuster.
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Netflix Inc , the largest online DVD rental company, reported its first-ever quarterly drop in subscriptions and missed Wall Street revenue targets in the face of fierce competition from Blockbuster Inc.
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Online video rental company Netflix  Inc. has lowered the price of its two-at-a-time DVD rental plan  by $1, to $13.99 a month, according to an e-mail sent to  subscribers on Thursday.
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The video rental company takes a pointed swipe at Netflix -- but will it matter?
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The satellite TV operator said higher interest payments on its debt sent fourth-quarter earnings down 2 percent, to $348 million.
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U.S. stock index futures indicated a  lower opening on Wall Street on Thursday with the focus on  corporate results, while European shares slipped after a slew  of mixed earnings.
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Lehman Brothers Holdings Inc   said on Thursday that quarterly earnings fell, hurt by  declining fixed-income revenues.
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Online video rental company Netflix  Inc.  has lowered the price of its two-at-a-time DVD  rental plan by $1, to $13.99 a month, according to an e-mail  sent to subscribers on Thursday.
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Stocks turned lower on Thursday, with the Nasdaq losing 1 percent, on a handful of disappointing earnings reports, including results from cable TV operator Comcast Corp .
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Online DVD rental company Netflix  Inc. NFLX.O on Monday posted higher fourth-quarter earnings  driven by subscriber growth and historically low subscriber  turnover, but said it was headed for net losses in the current  quarter and possibly the 2005 fiscal year.
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In a win for Blu-ray and a loss for consumer choice, Netflix said Monday it will no longer be stocking new HD DVD movies for its subscribers to rent.
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Slashed earnings estimate pulls down shares.
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US stock-index futures dropped after Coca-Cola Co., Xilinx Inc., and Tribune Co. said sales or earnings will miss forecasts. ``Profits and outlooks are falling short and that will disappoint
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Cutting prices at Netflix is a sequel you don't want to see.
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Blockbuster Inc. introduced on  Tuesday an Internet-only DVD rental service priced below a  similar Netflix plan, sending Netflix shares down 9 percent as  the online movie rental war heated up again.
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Netflix has announced it is not longer supporting HD DVD.
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Internet content delivery company  Limelight Networks Inc on Tuesday gave a weaker-than-expected  financial outlook and blamed the Hollywood writers' strike,  dragging its shares down 15 percent in after-hours trade.