Netflix shares jump after record subscriber growth

Netflix shares on the Frankfurt stock exchange surged 14.3 per cent during early trading on Wednesday following the announcement that the streaming service had achieved a record number of new subscribers during the holiday quarter.

The company announced its intention to increase prices in the US, Canada, Portugal, and Argentina following a growth of 18.9 million subscribers in the fourth quarter.

After closing up 1.35 per cent in regular trading, the company’s shares surged 10 per cent in after-hours trading on Tuesday.

Attribution: Reuters

Subediting: M. S. Salama