BACKLASH WORSENS: Netflix’s video subscription service lost 800,000 U.S. customers in the third quarter, even more than management expected after raising prices by as much as 60 percent last month. The defections are still piling up, particularly on the DVD rental side of Netflix Inc.’s service.
FALLOUT: With less revenue coming in than management had budgeted, Netflix expects to start posting losses next year when its Internet video streaming service expands into Britain and Ireland.
STOCK FREEFALL. Netflix shares plunged by nearly 27 percent to around $87 in Monday’s extended trading. In July, the shares topped $300.