Netflix shares jump as subscriber surge, live sports streaming fuel growth

Reuters - 22/01
Netflix shares soared in premarket trading on Wednesday after the company reported a blockbuster holiday quarter as a robust content line-up and its entry into live sports streaming brought in a record number of new subscribers.
Jan 22 (Reuters) - Netflix (NFLX.O), opens new tab shares soared in premarket trading on Wednesday after the company reported a blockbuster holiday quarter as a robust content line-up and its entry into live sports streaming brought in a record number of new subscribers.
The streaming giant's stock surged over 14% to $994.36, poised to boost its market capitalization by $53 billion to about $425 billion, if gains hold.
The year 2024 was pivotal for Netflix as it ventured into live sports. It partnered with WWE, broadcast two NFL games on Christmas Day, and secured U.S. broadcast rights for the 2027 and 2031 FIFA Women's World Cups.
"Netflix is simply running away with the streaming market thanks to excellent execution, a stellar content slate, and scale advantages," said Evercore ISI analysts in a note.
The company added 18.9 million subscribers in its holiday quarter, blowing past Wall Street's estimate of 9.2 million additions ...
[Short citation of 8% of the original article]