Netflix Reports Loss of 800,000 U.S. Subscribers

October 24, 2011 Updated Oct 24, 2011 at 6:36 PM EDT

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Netflix Reports Loss of 800,000 U.S. Subscribers

October 24, 2011 Updated Oct 24, 2011 at 6:36 PM EDT

Movie and streaming video giant Netflix lost more than 800,000 U.S. subscribers over the last fiscal quarter, and watched its stock drop more than 20 percent on Monday, according to the Los Angeles Times.

According to the Times story, the number of Netflix subscribers was at 23.79 million at the end of September, down from 24.59 million three months earlier.

Read the Los Angeles Times story HERE.