|Netflix shares jumped by 10.4 percent in after-hours trading on Mondayafter it reported that it added 5.2 million new streaming customers in the second quarter. Netflix also predicted that the gains would continue as its foreign subscriptions exceeded those in the U.S. for the first time, with just over 52 million overseas subscribers out of a total of 104 million. The company’s stock jumped by $16.82 to $178.55, setting a new all-time intraday high. Netflix said its foreign growth would result in its first full-year profit overseas this year. Netflix added more subscribers than expected partly due to the allure of its own hit TV series, including 13 Reasons Why and the new season of House of Cards.
Source: Reuters, The Associated Press