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TheStreet Open House

Netflix Cuts Domestic Subscriber Estimates

Stocks in this article: NFLX

Updated from 7:25 a.m. EDT

LOS GATOS, California ( TheStreet) -- Netflix (NFLX) said Thursday it was lowering is third-quarter domestic subscriber estimates but that its financial guidance for the quarter remains unchanged.

Netflix said it expects 21.8 million domestic streaming subscribers. In July, Netflix estimated 22 million domestic subscribers.

The company also said it expects 14.2 million DVD subscribers, down from an earlier forecast of 15 million.

Netflix has received significant criticism after increasing subscription prices during the summer. The company decided to separate its popular DVD-by-mail and streaming option, raising the price for both services to $16 per month from $9.99.

"We know our decision to split our services has upset many of our subscribers, which we don't take lightly, but we believe this split will help us make our services better for subscribers and shareholders for years to come," Netflix said in a statement.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

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