Netflix’s 3Q Earnings Quadruple, Stock Soars

SAN JOSE, Calif. (AP) —

Netflix’s earnings quadrupled, as its lineup of original programming helped the company attract 1.3 million more U.S. subscribers during its latest quarter.

Netflix earned $32 million, or 52 cents per share, in the quarter. That compared with income of $7.7 million, or 13 cents per share, at the same time last year.

Analysts surveyed by FactSet had forecast earnings of 48 cents per share.

Revenue rose 22 percent from last year, to $1.1 billion, to match analyst projections.

Netflix expects to add another 2.5 million to 4.1 million subscribers worldwide in the current quarter ending in December, including an additional 1.6 million to 2.4 million in the U.S.

Netflix’s latest report was a hit on Wall Street. Netflix’s stock soared $36.51, or more than 10 percent, to $391.50 in extended trading after the numbers came out. That puts the shares on course for another record high in Tuesday’s regular session, and means the stock has more than quadrupled in value this year.

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