Before market open, shares had gained 7.6% to $375.12.
The online streaming company reported net income of 86 cents a share over the three months to March, beating Thomson Reuters estimates by 3 cents a share. Revenue of $1.27 billion was in line with expectations.
Netflix also said it intends to increase subscription costs for new members by $1 to $2 a month depending on region.Must Read: Why Netflix Is Raising Prices
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates NETFLIX INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation: "We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."
- You can view the full analysis from the report here: NFLX Ratings Report
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