Netflix shares were up sharply yesterday after the company issued figures showing that streaming figures among its US customers were significantly above expectations.
The content streaming and delivery company reported that there were 2 billion hours of content were streamed in the final three months of 2011, almost twice the number analysts were forecasting.
The US-listed company’s stock, which has been hit by a series of adverse events and subscriber losses, leapt accordingly and 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 network it would be ranked about 15th. In Netflix’s 21.5 million US homes, the service is the most-watched apart from broadcast network CBS.