Netflix Subscribers Surge Thanks to ‘Narcos,’ ‘Stranger Things’
Netflix added 3.6 million subscribers in the third quarter, buoyed by the hit series “Stranger Things” and “Narcos,” hushing skeptics of its strategy to globally dominate online TV viewing.
The world’s largest online TV network rebounded from a weak second quarter, adding about 370,000 customers in the U.S., more than forecasts of 304,000. Netflix had blamed a price increase for slower growth earlier this year. The company added 3.2 million customers outside the U.S., better than analysts’ average projection of 2 million.
The shares surged 20% in late trading to as high as $121.28. If those gains hold on Tuesday, the stock could reach its highest point in regular trading since January.
