Streaming service Netflix’s stock surged by 16% Thursday following the release of the company’s third quarterly earnings report.
According to the report, Netflix’s ad-supported tier jumped 70% in subscribers last quarter.
Likewise, the company added 8.74 million new subscribers in Q3, more than 3 million subscribers more than expected by Wall Street.
Netflix’s new anti-password sharing policies are expected to continue growing the company’s subscriber base in the near future.
