Netflix soars over 7% in pre-market trade

Business 4/17/2018, 12:33 PM
Netflix soars over 7% in pre-market trade

Entertainment company Netflix, Inc. shares soared during pre-market trading, jumping 7.22%. The spike followed yesterday's after-hours rise of more than 6%, when the streaming giant released its earnings report for the first quarter of 2018.

Netflix reported $3.7 billion in revenue in the first quarter, marking a rise of 40% compared to the same period last year. The service added 1.96 million new subscribers in the United States, while gaining 5.46 million new users around the world, excluding US.

Streaming revenue was $3.6 billion in the first three months of 2018, rising from $2.5 billion year on year.

Breaking the News / BM

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