The last two days have been rough for Netflix. Here’s David Carr’s take on its latest woes:

In earnings announced on Monday, word came that for the first quarter, the company lost $4.6 million, its first loss since 2005. The company also said that its aggressive international expansion was going to take longer than expected. Netflix stock tanked, down over 14 percent on Tuesday.

This area chart shows how quickly the video service’s stock dropped in after-hours trading following the earnings announcement late Monday:

See larger version, via Yahoo! Finance.