Price Tag for Netflix’s Horrible Week: $23 Billion Dollars

Reed Hastings, CEO of Netflix, speaks during a press conference in Seoul, South Korea, Thursday, June 30, 2016. Netflix plans to expand its Asian offerings to its subscribers around the world by tapping more creators in Asia. (AP Photo/Ahn Young-joon)
AP Photo/Ahn Young-joon

Netflix shares continued to tumble on Friday, adding to the huge losses shareholders in the streaming media company have suffered this week.

Shares were down an additional 1.15 percent on Friday even as the Nasdaq Composite edged upward. On Thursday, shares fell 17 percent following quarterly results that showed international subscriber growth rose by less than expected and the U.S. subscriber count fell for the first time in a decade.

A week ago, Netflix had a market capitalization of $163.1 billion. Now it is down to around $140 billion.



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