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Netflix sees dramatic subscriber growth in fourth quarter, lifted by overseas expansion

Netflix sees dramatic subscriber growth in fourth quarter, lifted by overseas expansion

Netflix Inc. surged past expectations for the fourth quarter, announcing on Wednesday that it had added nearly 7.1 million subscribers worldwide, well above its forecast additions of 5.2 million for the quarter. 

The news sent shares of Netflix soaring in after-hours trading Wednesday, with the stock climbing more than 8% to $144.

The Los Gatos, Calif.-based streaming TV giant posted net income for the fourth quarter of $67 million, with earnings per share of 15 cents, beating guidance and analyst estimates of 13 cents per share. The company had earnings per share of 7 cents in the year-ago quarter.

Streaming revenue for the quarter was $2.4 billion, up...

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