Netflix crosses US$100b market capitalisation as subscribers surge
It is building its customer base in 190 countries by spending billions on programming
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Los Angeles
NETFLIX Inc snagged two million more subscribers than Wall Street expected in the final three months of 2017, tripling profits at the online video service that is burning money on new programming to dominate Internet television around the world.
The results drove Netflix to a market capitalisation of more than US$100 billion for the first time. Shares jumped 9 per cent to over US$248 in after-hours trading on Monday after rallying throughout the month and rising 53 per cent last year.
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