Netflix up as quarterly streaming numbers hit two billion

Netflix shares were up sharply yesterday after the company said that streaming figures among its US customers were significantly above expectations.

The content streaming and delivery company reported that two billion hours of content were streamed in the final three months of 2011, almost twice the amount analysts were forecasting.

The US-listed company’s stock, which has been hit by a series of adverse events and subscriber losses, was up 11.4% to US$80.45 at the close of trading yesterday.

The figures make Netflix among the most viewed TV services in the US and if it were a regular US TV network it would be ranked about 15th. In Netflix’s 21.5 million US homes it is the most-watched service apart from broadcast network CBS.

Tags: Netflix, US

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