Netflix Rises Most Ever After Posting Surprising Profit
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Netflix Inc., the world’s largest online-video service, rose the most ever after beating its forecast for fourth-quarter subscriber growth and posting an unexpected profit.
The stock jumped 42 percent to $146.86 at the close in New York, its biggest gain since it went public in May 2002. Netflix said yesterday it signed 2.05 million new U.S. Internet subscribers in the quarter, bringing total domestic online customers to 27.2 million. The gain led to a net income of 13 cents a share, while analysts predicted a loss.