Netflix Subscriber Growth Much Stronger Than Expected and its Stock Soars
Netflix is managing to fend off competition and growth it's subscriber growth to levels that surprised Wall Street.
The company behind shows like "House of Cards" and "Orange is the New Black" continues to add subscribers. Netflix's (NFLX) - Get Report stock surged after it reported that it's third-quarter subscriber growth was much higher than analyst's expected. Netflix added more than 3 million subscribers worldwide, and has now expanded into 130 markets. Netflix manage to retain US customers despite a price hike. Netflix also said it expects to add 1.45 million subscribers in the US in the current quarter, which is also higher than what Wall Street expected.
