Netflix Suffers Big Outage as Stock Hits New Peak

Friday, 22 Oct 2010 01:48 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

It was a great day to be a Netflix shareholder, but not a good one to be a Netflix subscriber hoping to watch a movie through the company's service.

Just hours after Netflix's stock price hit an all-time high Thursday, its website began suffering outages that prevented many of its nearly 17 million subscribers from streaming video over the Internet.

The breakdown was especially embarrassing because it occurred the day after Netflix CEO Reed Hastings predicted that subscribers will soon be watching more hours of video on the Internet than on DVDs, which the company delivers by mail.

Netflix says engineers are trying to fix the problem.

Netflix shares surged nearly 13 percent to close at $172.79 on the heels of reporting robust third-quarter growth.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved