Netflix shares dive as co-founder Reed Hastings steps away

Netflix shares plummeted much than 9 percent Thursday arsenic the TV streaming titan's quarterly net failed to impressment investors and co-founder Reed Hastings announced helium is leaving.

Hastings, who helped turn the revolutionary DVD-by-mail institution into a planetary amusement behemoth, volition depart Netflix to "focus connected his philanthropy and different pursuits" erstwhile his word arsenic president of the committee of directors ends successful June.