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Business

Netflix stock soars as it hooks binge watchers

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Opening sequence

Business

Netflix stock soars as it hooks binge watchers

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COMING UP:Netflix stock soars as it hooks binge watchers

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00:00:02
>> Netflix giving investors a good show Monday, saying it added 3.2 million more subscribers internationally in the 3rd quarter, much better than the 2 million it had forecast, thanks to the popularity of shows such as Stranger Things. And it expects to do even better in the last quarter of this year.
00:00:20
It also beat its US subscriber forecast numbers easing concern the rise in monthly fees would cost viewers to click off. But it's quarterly report released Monday afternoon didn't bring all good news. Netflix saying, growth in 2017 tougher internationally following this year's surge when it rolled out services in over a hundred 30 new countries.
00:00:42
Reuters company News Editor Peter Henderson.>> For several years, they've been investing more and more in international markets in and content. It's cost them quite a bit to extend their reach and to make all these programs that are unique to Netflix. They've been running very close to break even.
00:01:03
One of the things that was positive today, is that they said next year they will able to hit their target of starting to meaningfully increase their profits.>> As for the big China market that's been hard to break into, Netflix saying Monday, it aims to license content to existing online video providers there.
00:01:21
In the past, shows like House of Cards and Orange is the New Black were streamed on Chinese online video platforms, but it says, revenue from China licensing would be modest. Netflix stock is still off its record highs hit almost a year ago, with concerned about rising competition, specially from amazon, which is giving viewers the option of a month live video streaming service, instead of an annual payment, for the whole amazonPrime service.
00:01:48
>> Let's look from thousand.