Los Gatos, CA / Netflix (NFLX) reported earnings after market on Wednesday and the stock took flight shortly after.
For the first quarter, Netflix added net 4.88 million new subscribers to their online video streaming service on the heels of an aggressive campaign to expand in international markets.
Over the past 3 months, Netflix stock has rocketed up over 47% and rose an additional 12% after market on the earnings announcement. Prior guidance was for Netflix to see subscriber growth of 4.05 million new subscribers.
During the first quarter, Excluding certain costs, net income was 77 cents a share. Reported profit for the quarter was $23.7 million, or 38 cents a share significantly down from the prior quarter at $53.1 million, or 86 cents per share.
Read More: http://www.marketcommentary.net/2015/04/15/netflix-adds-more-subscribers-than-expected-shares-soar/
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