Netflix Surges On Strong Subscriber Boom

Millions of new subscribers continue to stream in to Netflix thanks to its ambitious lineup of original shows.
Netflix (NFLX, Tech30) on Monday announced adding more than 5 million subscribers in the June quarter, bringing its total subscriber base to about 104 million.
The strong growth beat Netflix’s own estimates and caused the stock to spike 8% in after hours trading.
“We underestimated the popularity of our strong slate of content which led to higher-than-expected acquisition across all major territories,” Netflix said in its earnings release.
“The large-cap tech companies, especially Amazon, are investing heavily in original and licensed content around the world,” Netflix said in its earnings release.

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