Tech

Netflix Suffers Big Outage As Stock Hits New Peak

View Comments
Netflix headquarters

A sign outside Netflix headquarters in Los Gatos. (AP)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

LOS GATOS (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 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 said engineers were 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.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 54,008 other followers