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Netflix adds a third more subscribers than expected; shares jump 8%

Reuters Published on Thu, Jan 19, 2017 / 9:09 AM GMT+8

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BENGALURU (Jan 19): Streaming video pioneer Netflix Inc added over a third more subscribers than expected in the last quarter of 2016, a sign of success for its ambitious global expansion that sent its shares up 8% in extended trading.

Netflix signed up 7.1 million new subscribers globally, far more than the 5.2 million analysts had expected, according to research firm FactSet, beating targets at home and abroad even as it raised prices.

Original shows like "Marvel's Luke Cage" and British drama "The Crown" performed strongly around the world, Netflix said, noting that competitors were adapting to compete.