Netflix Inc (NFLX.O) snagged 8.33 million new streaming customers in the final quarter of last year – 2 million more than Wall Street expected – as the pioneering online video service kept pouring money into programming in a race to dominate internet television around the world.
The results cheered investors who drove Netflix shares up 7.8 percent to a record high of $245.16 in after-hours trading on Monday, hitting a market capitalization of more than $100 billion for the first time.
Tech companies have been driving much of the U.S. stock market’s record-breaking rally since January, with Netflix shares up 15 percent in 2018 before Monday after rallying 53 percent last year.
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