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Netflix Shares Soar to Record After Huge Gain in Subscribers
- Netflix is raising subscription prices in its biggest market
- Report marks the end of regular quarterly customer updates
The boxing match between Jake Paul and Mike Tyson delivered a record number of sign-ups, according to the research firm Antenna.
Photographer: Brett Carlsen/Getty ImagesNetflix Inc. shares soared to a record high on Wednesday after the streaming giant reported its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.
The company added 18.9 million customers in the fourth quarter, according to a shareholder letter Tuesday. That was more than double what Wall Street expected and brought global subscribers at Netflix to more than 300 million. The company’s previous best was 15 million in the first quarter of 2020 — numbers driven by the onset of the coronavirus pandemic.