Netflix Records Rising Earnings with Strong New Subscribers Globally

Shares of Netflix rose as much as 8.2 percent in after-hours trading after the company reported a profit for its fourth quarter that advanced compared to the same period last year.

Streaming video pioneer earned $66.75 million, or $0.15 per share in the three-month period ending December, which is up from 29.74 million, or $0.07 per share, in last year’s fourth quarter. Revenue for the quarter rose 36.3% to $2.48 billion, surpassing $1.82 billion recorded last year.

In its earnings report, Netflix said the number of new subscribers surged by 7.1 million globally, which is far more than the 5.2 million analysts had expected. The company also plans to release more than 1,000 hours of original programming this year, up from 600 hours last year.

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