Netflix shares soar as video service posts jump in subscribers

Netflix has hit the growth worries hard with an announcement of increasing number of new subscriber making its shares soaring.

Netflix added 3.2 million international customers in last three months, which are more than predictions. Experts expected number to be 2 million.

In the US, numbers rose by 21% to 370,000 owing to hit shows like Stranger Things and Narcos which got more subscribers. It helped quarterly revenues to rise by 31%.

The company has been expanding in worldwide markets to counter slowing growth in the US. The service has a strong presence in more than 130 markets worldwide, except China.

News in the market about decreasing growth of Netflix was affecting its shares negatively. Its shares had fallen about 13% this year. But in after-hours trading on Wall Street the shares jumped 20% to about $119.

Vicky is a digital marketing executive who specializes in technology. He combines his experience in forthcoming technology research. His intension is to create updated website with all modern technology, and modern devices.

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