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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

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eBay will pay nearly $50 million after employees reportedly sent a Massachusetts couple a bloody pig mask, cockroaches and death threats

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Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
TechNetflix

Netflix Shares Pop on Big Subscriber Gains

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January 19, 2016, 4:32 PM ET
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Video-streaming service Netflix’s quarterly subscriber additions topped its expectations, boosted by strong international growth, sending its shares up 8 percent in extended trading.

Netflix, known for its original shows such as House of Cards and Orange is the New Black, said it added 5.59 million subscribers in the three months ended Dec. 31, higher than its forecast of 5.15 million.

Internationally, Netflix added 4.04 million subscribers, compared with its estimate of 3.50 million.

The company said on Tuesday it added 1.56 million U.S. subscribers in the fourth quarter, below the 1.65 million it forecast in October.

Shares of Netflix (NFLX) were trading up 6% after the bell at $114.39.

Netflix, which started in 1997 as a DVD-rental-by-mail firm, forecast adding about 1.75 million customers in the United States in the current quarter.

It also said it expected to add about 4.35 million subscribers internationally.

Earlier this month, the company flipped the switch on its aggressive international plans, going live in more than 130 countries at once.

For more about Netflix, watch:

Netflix said revenue rose 22.8% to $1.82 billion.

Analysts on average had expected a profit of 2 cents per share and revenue of $1.83 billion, according to Thomson Reuters I/B/E/S.

Excluding items, Netflix earned 7 cents per share.

(This story was updated with additional information)

 

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