Why Netflix, Inc. Shares Are Soaring Today

Shares of Netflix (NASDAQ: NFLX) jumped Tuesday morning on the heels of Monday night's second-quarter earnings report. As of 11:50 a.m. EDT, the stock was exploring new all-time highs at an overnight increase of 13.1%.

In the second quarter, Netflix management's official guidance had pointed to earnings of $0.15 per share on sales of roughly $2.8 billion. These projections turned out to be on point.

However, subscriber additions came in far above guidance. Management had sketched out a domestic growth target of 600,000 net new subscribers, and the international user tally was seen increasing by 3.2 million. Instead, the company added 1.1 million new U.S. subscribers and 4.1 million new customers abroad.

Source: Fool.com