Netflix crashes 14% as it misses its own growth goals

We'll spare you the lame/obvious "not chill" joke... Netflix announced it added 5.2 million subscribers in 3 months. And that's considered a bigger disappointment than Mars Needs Moms IIWall Street punished shares due to growth figures that were less than expected, but that CBS, NBC, or any other traditional media company would dump George Clooney for.

Here's the thing... Netflix sets aggressive growth targets every quarter. It missed this time by 1 million subscribers -- and was quick to blame the people in the finance dep't for bad forecasting (their free binging privileges are grounded). But the stock's up from $161 from last year to $400 today, so a 14% drop just rewinds Netflix shares by a month.

The takeaway... 1 other thing shocked investors. Netflix re-confirmed it's dropping $8 billion in 2018 on content. Since Netflix would probably give your spin instructor a show on top of the 100s it's green-lighted already, analysts expect the budget will rise to $12 billion this year to dominate video streaming. (FYI, HBO can only afford $2 billion/year).