Netflix Bears Take a $687 Million Beating in Post-Earnings Surge

It’s a tough day to be a Netflix bear.

Short-sellers lost $687 million as the shares surged 12 percent after the world’s largest paid online TV network post-market earnings report showed it added 7 million new customers in the third quarter, above its own and analysts’ forecasts. The stock’s 80 percent rally this year has stripped $3.63 billion from short-sellers’ accounts, Ihor Dusaniwsky, managing director at financial analytics firm S3 Partners, said in a tweet.