Stock & Shares

Netflix Beats Subscriber Targets, Shares Jump Over 10 Per cent


Netflix crushed Wall Street forecasts by adding 5.2 million new streaming customers in the second quarter and predicted continued momentum as foreign subscriptions topped those in the United States, lifting its stock 10.4 per cent on Monday.

Shares of the streaming-television pioneer jumped $16.82 (£12) to $178.55 (£136) in after-hours trading, beating their all-time intraday high of $166.87 (£127) on June 8.

Netflix expects foreign growth to bring its first full-year profit for overseas markets in 2017, the company said in a letter to shareholders.

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The author Paul