Your stocks may be a disaster, but Netflix is doing great
NEW YORK (CNNMoney) –Netflix topped expectations with 75 million subscribers when it reported its fourth quarter earnings on Tuesday.
Its biggest boost came from its international growth. The streaming giant reported that it had added 4.04 million international subscribers, topping expectations of 3.5 million.
The company reported growth of 1.56 million subscribers in the U.S., which fell short of expectations of 1.6 million subscribers.
The surge around the world, however, was enough to please Wall Street which sent Netflix’s stock up over 8% in after hours trading.
Netflix said it is bullish about its next quarter, predicting 6.1 million new members in the first quarter, due to its expansion “virtually everywhere but China.”
When Netflix reported last quarter that its domestic subscriber fell short of the projected 1.15 million increase, the stock plunged 8%.
However, the stock recovered and hit all-time highs in December.
The company’s fourth quarter earnings come just weeks after the company announced that it was launching in 130 more countries around the world including India, Poland, and Russia.
“You are witnessing the birth of a global TV network,” Hastings said during the announcement.
The company has also made big announcements regarding the return of one of its most-talked about original shows.
Marvel’s “Jessica Jones” was renewed for a second season on Sunday following a critically acclaimed first season that debuted in November.
Netflix’s other Marvel series, Daredevil, will return for its second season on the service on March 18.
The company has also gained attention in the past weeks for its true crime series “Making of a Murderer.”
The true tale of Steven Avery has captured the attention of many of the company’s binge viewers leading hundred of thousands of people to sign petitions supporting Avery.