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Netflix beats subscriber targets, shares jump 11 pct

Reuters 

By Lisa Richwine and Aishwarya Venugopal(Reuters) - Netflix Inc crushed Wall Street forecasts by adding 5.2 million new streaming customers in the second quarter and predicted continued momentum as it expands around the world, lifting its stock nearly 11 percent on Monday.Shares of the company that pioneered streaming television jumped to $179.16 in after-hours trading, beating their all-time intraday high of $166.87 on June 8.Netflix expects foreign growth to lead to its first full-year profit for overseas markets in 2017, the company said in a letter to shareholders.At the end of June, ...

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First Published: Tue, July 18 2017. 03:02 IST
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