Bullish, bullish, bullish. That’s how Wall Street seems to feel about Netflix these days. The streaming titan, nearly written off by investors just two short years ago, revealed strong Q3 earnings today and had its share price increase by 10 percent in after-hours trading.
Netflix reported earnings of 52 cents a share, which was several cents per share above analysts expectations. The company saw its sales reach $1.1 billion, and announced that it had crossed the 40 million subscriber mark.
Despite critics claiming that it is spending too much on content, Netflix also announced that it expects to double its spending on original content in 2014, and that new series Orange is the New Black is its most-viewed original program.
The Netflix bubble is getting bigger and is still not showing any signs of bursting. How long can this upward rise last?
[via CNN Money]