Shares of Netflix (NASDAQ: NFLX) were moving higher today after the streaming giant said it received strong advertising demand in its upfront ad sales, which were up more than 150% from 2023. The data point, which Netflix provided in a blog post this morning, is the latest evidence showing that its advertising business is thriving, even at a time when its legacy media rivals are struggling.

As of 12:22 p.m. ET, Netflix stock was up 1.5% for the day after gaining as much as 3.3% earlier in the session. The streaming stock also topped $700 a share for the first time ever, hitting an all-time high of $711.33.

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Source Fool.com