Investment in original content such as Orange is the New Black appears to be working for Netflix, as the company gained nearly a third more subscribers than expected in the second quarter. Shares soared 9.4 percent at the news to 107 pence per share.
Net subscriber additions rose about 94 percent year over year to about 3.3 million in the second quarter, beating the company’s forecast of 2.5 million.
Several of its original shows, including House of Cards and Grace and Frankie, have garnered serious attention over the past year.
“Subscriber growth was huge domestically and internationally,” said FBR Capital Markets analyst Barton Crockett. “The technology, the breadth of content and the quality of content is really working in their favour.”
