Netflix warns of losses for all of 2012, raises more cash

Netflix dropped a double bomb late Monday: The company now expects to lose money for all of 2012, and it is looking to raise cash in a secondary offering of its stock.Netflix (NFLX) warned in its last earnings report that it expects to be unprofitable “for a few quarters” starting at the beginning of 2012. The primary culprit is Netflix’s pricey plan to expand its streaming video service into the United Kingdom and Ireland, but a wave of subscribers jumping ship hasn’t helped.


Source: http://money.cnn.com/2011/11/22/technology/netflix_unprofitable/index.htm