Netflix crosses $100 billion market cap after adding more subscribers than expected.
(Reuters) — Netflix Inc added more global subscribers than expected in the fourth quarter, as the video streaming service provider kept viewers hooked with critically acclaimed shows such as “The Crown” and “Stranger Things,” sending its shares up 7 percent in aftermarket trading to a record.
Netflix added 8.33 million total subscribers globally in the quarter. The company had forecast total subscriber additions of 6.3 million for the three months ended Dec. 31.
Analysts’ on an average were expecting subscriber additions of 6.39 million, according to data and analytics firm FactSet.
The company’s profit and revenue also rose in the quarter. The stellar results pushed its shares to an all-time high and gave Netflix a market capitalization of more than $100 billion for the first time.
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