(CNN) — Netflix shares plunged 35% in premarket trading Tuesday after the video rental company said it lost 800,000 subscribers in the third quarter.
Netflix (NFLX) earned $62 million, or $1.16 a share, on a record $822 million in revenue in the quarter that just ended, beating analysts’ estimates. But shareholders ignored that fact and focused on the sharp decline in its subscriptions. Shares were trading at $76.66, down $42.18, after touch the $300 mark earlier this year.
