Netflix (NASDAQ:NFLX) shares jumped over 10 percent in after hours trading in New York, after the company said it had hit 104 million subscribers.
Netflix added 5.2 million new subscribers in the second quarter, 2 million more than expected by analysts. The company said the increase in subscribers was the result of increased investment in its shows, several of which went viral over the quarter. Its series 13 Reasons Why, documenting the suicide of a young girl, caused controversy for its handling of the topic.
However, after the release of new series’ of popular shows Orange is the New Black and House of Cards in the second quarter, subscribers could fall in the third with no big releases scheduled.
However, the company remained optimistic they it would continue its momentum, forecasting revenue of $2.969 billion and a net addition of 4.4 million new subscribers.
Netflix shares jumped 10 percent after the closing bell, currently trading up 0.36 percent at 161.70 (0946GMT).
