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Netflix: Wedbush Cuts Estimates, Sees Little Impact From Glitch

August 19, 2008
by Tiernan Ray
Blogger, Barron's, Tech Trader Daily

Tiernan Ray

Here’s the follow-up to last Friday’s article reporting that Netflix (NFLX), after experiencing a technical difficulty that prevented sending out DVDs for several days, said it would refund 15 percent of monthly subscription fees to a subset of customers. Wedbush Morgan analyst Michael Pachter lowered estimates for the company this morning, while maintaining a “Buy” rating on its stock and writing that “Netflix is positioned for dramatic EPS growth as streaming adoption increases.”

There’s still no official printed notice from Netflix. You can see the company’s comments in an interview Bloomberg conducted on Friday.

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