>> Netflix shares bucking a lousy start to Wall Street trading Wednesday. The stock gaining ground after stellar third quarter results.>> I've been queen barely ten years.>> The streaming media company added nearly 7 million new subscribers worldwide last quarter, which is way more than expected, and Netflix predicts they can add another 9 million subscribers in the fourth quarter.
>> Probably like that.>> By bringing on so many new viewers, Netflix was able to easily beat profit forecasts, with quarterly sales hitting $4 billion. Much of that getting piled right back into new content to keep viewers from straying away to competitors like Amazon Prime Video and Hulu.
Reuters media correspondent Lisa Richwine.>> Netflix now has a huge head start over everybody else in the market. They've got 137 million streaming customers around the world, which is more than any other current service, and a big lead over companies like Disney and others that plan to enter the market next year.
>> Netflix is borrowing heavily to keep up a hefty rate of spending for new content, which has bond investors on edge. But long-term stock investors are not as concerned. Despite the growing number of challengers and last week's angst over tech stocks, shares of Netflix are still up 92% year-to-date.