Netflix suffers big outage as stock hits new peak

Oct 21, 2010

(AP) -- 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 hit an all-time high Thursday, its website began suffering outages that prevented many of its nearly 17 million 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.

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

Explore further: Scientists twist radio beams to send data: Transmissions reach speeds of 32 gigabits per second

4 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Netflix 2Q profit shines, stock still loses luster

Jul 21, 2010

(AP) -- Netflix Inc.'s second-quarter performance got panned by investors Wednesday for bringing in less revenue than expected, even though the movie subscription service added a million more customers to ...

Familiar script: Netflix 2Q tops expectations

Jul 23, 2009

(AP) -- Netflix Inc.'s second-quarter profit shot past analyst expectations, following a familiar script as recession-weary consumers flocked to its DVD-by-mail and Internet streaming service.

Recommended for you

Cutting congestion on the data network highway

Sep 12, 2014

Perhaps no other consumer-driven technology has made such incredible advances in such a relatively short space of time as the mobile phone. Today's smartphones are used to stream videos, access social media ...

User comments : 0