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Netflix Shares Tumble in After-Hours Trading After Earnings Miss — Tech Roundup

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NEW YORK (TheStreet) -- Shares of Netflix (NFLX - Get Report) fell by more than 7% in after-hours trading Wednesday after the company said it had signed up fewer U.S. subscribers in the third quarter than it had anticipated. But the company's shares pulled back from their sharp descent and were down about 2% by late afternoon. Netflix shares closed Wednesday at $110.23, up by less than 1% during the regular trading session.

The company said that it earned $29 million during the quarter, less than $51.2 million expected by Wall street, on revenue that totaled $1.74 billion.

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Intel (INTC - Get Report) shares rose by 2.4%, closing at $32.80, a day after the company reported better-than-expected quarterly profits and earnings, although demand for its chips remains slack. The chipmaker's data center business is seen as improving next year, Reuters a>


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