Netflix shows no slowing down: Subscribers top 100 million


LOS GATOS — Bolstered by upbeat reaction to the latest series of “House of Cards” and “Orange is the New Black,” Netflix on Monday reported quarterly results that surpassed expectations and showed no slowdown in demand for the video-streaming company’s services.

The highlight of Netflix’s second-quarter report was the number of its new subscribers. Netflix said it added a record 5.2 million new members during the quarter that ended in June. That number blew past Netflix’s own earlier estimate of 3.2 million new subscribers, and gave the company almost 104 million subscribers worldwide.

With subscribers crossing the 100 million mark, investors threw their weight behind Netflix in after-hours trading Monday. Netflix shares rose 10.5 percent to $178.69, after closing the regular trading session at $161.70.

All Credit Goes To : Source link