Netflix Stock Soars 19% On Much Stronger-than-expected Earnings

By Jennifer BootonMarketsMarketWatch Pulse

Shares of Netflix Inc. soared 19% in after-hours trade Monday after the company reported much stronger-than-expected earnings per share. The company reported net income of $51.5 million, or 12 cents a share, compared with $29 million, or 7 cents a share, in the year-earlier period. Revenue for the period grew to $2.29 billion, versus $2.1 billion last year, beating the consensus view of $2.28 billion. Net additions of 370,000 in the U.S. helped to bring total membership to 47.5 million, versus 43.2 million in the year-earlier period. The company said 40% of its streaming revenue was generated broad.

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