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Slow Growth Sinks Netflix

Stock quotes in this article: NFLX , BBI  

SAN FRANCISCO -- Shares of online movies rental company Netflix(NFLX Quote) plunged more than 11% after the company forecast a slowdown in subscriber growth during the current quarter.

Total subscribers in the second quarter are expected to be 8.3 million to 8.5 million. That's only slightly ahead of the 8.24 million total subscribers Netflix had at the end of the first quarter.

By contrast, Netflix enjoyed a 10% increase in total subscription between the fourth quarter of 2007 and the first quarter of this year. ...

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