Netflix Inc. recently announced that they have signed another three million subscribers in the fourth quarter. These results were higher than expected, and Netflix’s shares went up by ten percent; the company’s stock has increased nearly five times since last year. In total, revenue rose by 34%, to $596 million.
Netflix’s Chief Executive Officer Reed Hastings said “We should say that our huge subscriber growth, fueled by the excitement of watching instantly, impressed even us.” He added that the company hopes to expand beyond the borders of the U.S. and Canada, and plans to move into a new market this coming year.