Netflix reaches new highs after beating Q3 earnings

Netflix Beats Q3 Earnings, Stock Soars

Shares of Netflix reached a new 52-week high after the company announced better than expected earnings in the third quarter. Netflix saw revenue improve to $1.1B and earnings quadrupled to $.52 per share. The driver of strong financial growth was a 1.29M improvement in domestic streaming subscriber additions. Netflix has more than 40M paid streaming members around the world and about 7.1M subscribers to its DVD rental service. It recently entered into talks to partner with cable providers to add services to their customers, which is another good sign for future earnings.