Netflix smashes expectations making shares surge

Streaming video pioneer Netflix added over a third more subscribers than expected in the last quarter of 2016, a sign of success for its ambitious global expansion that sent its shares up 8 percent in extended trading.

Netflix signed up 7.1 million new subscribers globally, far more than the 5.2 million analysts had expected, according to research firm FactSet, beating targets at home and abroad even as it raised prices.

Reuters