Netflix stock tumbles on news of streaming slowdown

04/23/2012 | Reuters

Netflix stock declined 17% in after-hours trading to $84.85 after the service reported a loss for the first quarter of the year and said its streaming revenue in Q2 would be lower than for the same period in 2010. However, Netflix, which blamed the Q1 loss on the costs of expansion in Canada, Latin America and the U.K., said it would be profitable again in Q2.

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