Netflix Could Report Loss of 780,000 Subscribers in Third Quarter
Analysts suggest the beleaguered company will report greater subscriber losses than it initially forecasted.
In anticipation of the company's quarterly earnings call on Monday, Netflix projected a loss of nearly 600,000 subscribers in the third quarter, but analysts suggest the figure is considerably higher.
Bloomberg cites a survey of 10 analysts, which places the U.S. membership down at 23.8 million at the end of September, a loss of 780,000 subscribers.
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The DVD-by-mail service boasted a year to year gain of 10 million in global users in July, but recent customer displeasure with the experimental splitting of its streaming and mail order businesses halted that momentum.
Netflix has declined to comment on numbers until the report. Its last projection was on Sept. 15.
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The company has been using its domestic growth to expand streaming content and fuel its overseas business, having just announced official plans to expand in the U.K. and Ireland in 2012.
And despite subscriber losses, the company is expected to post solid earnings in the third quarter. Netflix shares opened around $116 on Monday.