(Reuters) - Netflix Inc
Shares of the company, which have surged about 60 percent this year, rose 6 percent to $327.57 after the bell on Monday.
Netflix, which faces stiff competition from Amazon.com's
The Los Gatos, California-based company had said it plans to spend around $8 billion on content this year to boost its subscriber growth.
Netflix added 5.46 million subscribers in its international markets in the first quarter ended March 31. compared with the average analyst estimate of 5.02 million, according to data and analytics firm FactSet.
Net income rose to $290.1 million, or 64 cents per share, in the quarter ended March 31 from $178.2 million, or 40 cents per share, a year earlier.
Total revenue rose 40.4 percent to $3.7 billion in the quarter.
Analysts on average had expected a revenue of $3.69 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Laharee Chatterjee in Bengaluru; Editing by Arun Koyyur)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)