As Netflix’s (NFLX) international expansion continues apace, the Internet TV service stumbled in its home market in the third quarter. Netflix executives late Wednesday blamed a shortfall in U.S. subscriber additions in Q3 on “involuntary churn” that was driven by the ongoing transition to chip-based credit and debit cards. Banks have been issuing new cards with security chips, often with new card numbers. That caused accounts to lapse when
Investors splattered Netflix (NFLX) with rotten tomatoes late Wednesday after the Internet TV service missed targets for third-quarter earnings, sales and U.S. subscriber growth. Netflix stock was down 7.5% in after-hours trading, following the company’s release of its Q3 earnings. During the regular session, Netflix stock rose 0.5% to 110.23. Netflix shares hit a record high of 129.29 on Aug. 5. Netflix earned 7 cents a share in the quarter, down
Tesla Motors (TSLA) chip supplier Nvidia (NVDA) is on a roll, hitting another new high in the stock market today. Besides providing graphics chips for Tesla’s touchscreen dashboard, the company is heavily involved in the video game industry. It recently launched a subscription cloud gaming service, which Nvidia describes as “the Netflix (NFLX) of games.” Nvidia shares rose 3% in quick turnover on Wednesday, hitting their highest level in over