Netflix cuts fourth-quarter outlook, cites economy
Business and Law Brief

Netflix cuts fourth-quarter outlook, cites economy

Online DVD-rental pioneer Netflix said Monday that it ended the third quarter with fewer subscribers than it had anticipated and that fourth-quarter subscribers will fall short of expectations as well. In a statement, Chief Financial Officer Barry McCarthy blamed the shortfall on "unusually weak" growth in August and September results that still fell short of internal projections, "likely due to the economic climate."