Original content helps Netflix beat expectations on new subscribers Noor Arora
Netflix Inc's blitz of original programs attracted a surprisingly high 7.4 million new customers from January to March, reassuring investors who are betting the videostreaming pioneer's massive spending will fuel growth around the world. New shows like "Altered Carbon" and "O Mecanismo" helped Netflix smash analysts' subscriber estimates, and its better-than-expected second-quarter outlook soothed concerns about competition from Apple Inc and Online Shopping for Electronics, Apparel, Computers, Books, DVDs & more Inc . Shares of Netflix jumped more than 7 percent in after-hours trading on Monday to $330.30. The stock is the top performer on the S&P 500 this year, gaining more than 60 percent. "I don't think this is a one-time thing," said Chaim Siegel, analyst at Elazar Advisors. "It's very similar to the results we saw last quarter. It's getting better."
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Original content helps Netflix beat expectations on new subscribers