Oct 16, 2018

Netflix surges on strong subscriber growth

Netflix shares jumped more than 10% in after-hours trade after the firm added more subscribers than forecast. The firm said it added nearly seven million members during the quarter, ending September with more than 137 million members world wide. The strong growth followed an unusually weak second quarter that had fanned worries about the online streaming firm's future. Netflix is among the first of the major US technology companies to report earnings to investors this quarter. Revenue increased 34% year-on-year to nearly $4bn, while profits more than tripled to $403m.

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