Netflix shares pop as subscriber growth tops estimates -->
Netflix blew past estimates for new customers in the fourth quarter, sending shares up 8 per cent in after-hours trade on Tuesday.
The California-based company said it added 7.1m subscribers globally in the three months to the end of December, beating its previous guidance of 5.2m new additions and marking its biggest quarter ever for new customers.
Revenues climbed to $2.48bn in the quarter while earnings grew to 15 cents a share — slightly above analysts’ forecasts and up from 10 cents a share in the same period a year ago.
Netflix shares have grown by more than a third in the past six months, as investors have been encouraged by strong customer growth and fresh deals with pay-TV companies such as Comcast.
Last year Netflix flagged ambitions to reach 100m subcribers this year, as it expanded to more than 130 countries. The company is on course to spend $6bn to produce and license original content in 2017, building on demand for hits such as House of Cards and The Crown.