Netflix shares surge as new subscribers beat estimates
The video-streaming pioneer’s shares touch a record high after surging about 64% this year
Bengaluru — Video-streaming pioneer Netflix Inc added more subscribers than expected in the third quarter as original shows such as the latest season of "Narcos" helped attract more viewers. The company’s shares, which touched a record high on Monday, rose nearly 2% to $206.50 after the bell. They had surged about 64% this year. Netflix forecast total subscriber additions of 6.3-million for the current quarter, just a touch above analysts’ estimate of 6.25-million additions, according to FactSet. The company added 4.45-million subscribers in its international markets in the third quarter ended on September 30, compared with the 3.69-million analysts had expected, according to data and analytics firm FactSet.
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