BUSINESS
10/21/2013 04:44 pm ET | Updated Oct 21, 2013

Netflix Shares Soar As Profit Quadruples

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LOS ANGELES, Oct 21 (Reuters) - Subscription video company Netflix Inc added 1.3 million customers to its U.S. streaming business during the quarter that ended in September, helping to boost earnings past analyst expectations to 52 cents per share.

Shares of Netflix, one of the year's biggest gainers, jumped 10.6 percent in after-hours trading on the Nasdaq. Analysts on average had expected the company to report earnings of 49 cents per share, according to Thomson Reuters I/B/E/S.

Net income for the quarter reached $32 million, up from $8 million a year earlier, Netflix said on Monday in its quarterly letter to shareholders.

Total subscribers to the U.S. streaming service, the biggest part of its business, reached 31.1 million. Netflix added 1.4 million customers in international markets, bringing its reach in foreign territories to 9.2 million.

(Reporting by Lisa Richwine; editing by Matthew Lewis)

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