Video streaming company Netflix reported earnings that easily beat expectations on Tuesday, sending shares soaring in after-hours trading.
The company posted an adjusted profit of 72 cents per share. Analysts had expected Netflix to report earnings of about 45 cents per share on $1.48 billion in revenue, according to a consensus estimate from Thomson Reuters.
Of 35 analysts polled, the most optimistic estimate for the quarter was for earnings of 52 cents per share. Shares rose almost 13 percent in after-hours trade on the news.
The company said U.S. subscriber numbers were in line with its forecast, while international subscribers came in ahead of expectations.
Netflix also said it can now profitably complete its international expansion over the next two years, sooner than expected.
In addition, Netflix said it will begin streaming the controversial Sony film "The Interview" this coming weekend for subscribers.
For the first quarter, the company forecast total streaming revenue of $1.398 billion, with 4.05 million net member additions.
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