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Updated from 8:30
Netflix(NFLX Quote), the DVD-by-mail outfit whose stock has become one of the great bull-and-bear battlefields of the past year, was under heavy pressure Friday morning after missing earnings estimates.
In early trading, the heavily shorted stock was down $6.37, or 19.9%, to $25.63.
The company said Thursday it earned $2.80 million, or 11 cents a share, in the three months to June 30, down from $3.31 million, or 8 cents a share, last year. Revenue rose 90% from a year ago to $120.3 million. Excluding stock-based compensation costs, Netflix earned $7 million, or 11 cents a share, in the latest quarter compared with $5 million, or 8 cents a share, last year. ...
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