In an open apology to Netflix customers, CEO Reed Hastings took the blame for the price hikes and service changes that generated such negative reactions. He also announced that Netflix was splitting its DVD-by-mail business off under a new name: Qwikster.
Among Tuesday's top online stories for investors: Internet ad revenue is now higher than newspaper revenue; Facebook stock is likely trading at a 300 P/E ratio; 20 world records that were set in 2010.
Netflix said it boosted profit by 26% in the third-quarter. The largest U.S. DVD-by-mail service gained new subscribers by expanding its digital and packaged-media offerings.
