Netflix shares soar as video service posts jump in subscribers
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.