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Stock Alert: Netflix Subscribers Cross 200 Mln; Shares Jump 13%

Shares of Netflix, Inc. (NFLX) are climbing more than 13% Wednesday morning following the video streaming platform crossed 200 million subscribers.

Tuesday, while reporting fourth quarter results, Netflix said, with the addition of 8.5 million in fourth quarter, the company surpassed the 200 million paid memberships mark.

Revenue in the fourth quarter increased to $6.644 billion from $5.467 billion in the same quarter a year ago.

EPS for the quarter of $1.19 however missed the average estimate of analysts polled by Thomson Reuters at $1.39.

Looking forward to the first quarter, the company sees revenue to be $7.129 billion and EPS to be 2.97 per share. Analysts see earnings of $1.65 per share on revenue of $6.7 billion for the quarter.

NFLX touched a new 52-week high of $577.77 this morning.

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