Netflix lowered its fourth quarter revenue and subscriber guidance on Monday, noting the economic climate may be taking its toll on its movie rental business.

Shares of Netflix plummeted 13 percent in intra-day trading to as low as $25.19 per share.

In sizing up the fourth quarter, which began this month, Netflix is forecasting a weaker than anticipated quarter based on how it existed the third quarter.

The number of subscribers is expected to be in the 8.95 million to 9.25 million range at the end of the year, compared with the company's earlier forecast of 9.1 million to 9.7 million.

Revenue, as a result, is expected to come in at a lower range between $353 million to $359 million, compared to its earlier forecast of $357 million to $367 million.

Net income, however, is expected to remain unchanged from the company's previous forecast of $18 million to $23 million for the fourth quarter

Meanwhile, Netflix is preparing to report the financial results of its third quarter on Oct. 20.

For the quarter that just ended on Sept. 30, the number of subscribers fell to 8.672 million, compared with the company's earlier projections of 8.675 million to 8.875 million subscribers.

"Net subscriber growth in July was in line with expectations, but August was unusually weak," Barry McCarthy, Netflix chief financial officer, said in a statement. "In September, the business regained momentum with results slightly below original expectations, likely due to the economic climate."

The company's third quarter revenues, however, are expected to remain within the range of its previous guidance of $343 million to $348 million - excluding the one-time $6.5 million credit it issued to subscribers after a service interruption in August. The company also expects its third quarter net income to fall within its previously guidance range when it reports its financial results later this month.