Netflix Posts Huge Numbers

Netflix, the movie and television show streaming service, reported record earnings recently. This, according to reports, was thanks in large part to two new hit shows that the company has independently released: Stranger Things and Narcos. In Monday, October 17th, after hours trading the company’s price rose by about 20 percent, after dropping more than 1.6 percent during the regular trading day. Netflix’s supporting indices dropped during the day, and Netflix easily outpaced the losses. The NASDAQ fell by 0.27 percent, and the technology sector dropped by 0.27 percent, too. Netflix was expected to post earnings on this day, and thanks to its rising costs of service, experts did not believe that earnings would be nearly as impressive as they were. The average customer saw their subscription costs go up by more than $2 per month, and analysts expected that this would lead to a decrease in revenue for the company. However, because of the strength of the programming that the company has picked up, as mentioned above, this was not the case at all. […]