Netflix has been a Wall Street favourite throughout the year, with the company’s shares a lot more than doubling because the start of 2015 to carry the title of top performing stock within the S&P 500. Now its shares have hit a record high following the firm reported earnings yesterday and beat on a number of important metrics, like the number of subscribers.
Netflix climbed 11 per cent to US$109.03 at 10:20 a.m. in Ny, and rose as much as 13 per cent to US$111.10 earlier, the largest intraday gain in three months.
The company’s Internet TV service grew to 65.6 million subscribers within the second quarter, with lots of attributing that growth to the popularity of Netflix’s original series such as “Orange may be the New Black” and “House of Cards.” Analysts were also keeping an eye on the growth in subscribers outside the U.S. market. Netflix also beat about this measure, with subscribers jumping by 2.37 million to 23.3 million internationally vs analyst estimates of a 1.94 million increase.
Analysts covering the stock are delivering updated research to their clients this morning. Here’s a roundup of the items they’re saying.