Netflix has been one of Wall Street's hottest and most-watched stocks in the past 12 months - its share price has risen by about 150 percent over the past year. But it took a hit today when it reported second quarter subscriber numbers that were short of what the analysts were expecting, and the stock is paying for it.
During the quarter, the company added 670,000 domestic streaming subscribers, and 4.47 million international subs. That compares with consensus estimates for 1.2 million and 5.04 million, respectively. The numbers missed those targets as well as Netflix's own forecast for 1.2 million and 5 million domestic and international subscriber additions, respectively.
On the other hand, Netflix beat earnings expectations of 79 cents per share, reporting 85 cents for the quarter. But that wasn't enough to keep the stock from reeling, falling by about 13 percent in after-hours trading last night.
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