Shares of Netflix Inc jumped on Monday more than 10% as the company added 5.2 million new subscribers in the last quarter, Reuters reported. This is the first time Netflix has recorded more subscription outside of the United States – more than 4 million customers are international viewers.
The company reported its earnings after the market closed on Monday. The shares jumped $16.82, to $178.55 in after-hours trading on Wall Street.
Subscriber growth exceeded Netflix’s own estimates of 3.2 million new subscribers. In a statement, Netflix said the surge in subscriptions was because of popular original content that appeared on the streaming service in the last quarter. Fourteen original series, 13 comedy specials and nine feature films were released in the second quarter.
The streaming service’s new hit 13 Reasons Why, along with the latest seasons of House of Cards and Orange is the New Black, helped boost its subscriber base from 83 million a year ago to 104 million in the last quarter, Financial Times reported.
“We underestimated the popularity of our strong slate of content which led to higher-than-expected acquisition across all major territories,” Netflix said in its earning report, according to Deutsche Welle.