News Summary: Netflix's 4Q report wows investors

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News,Business

STELLAR PERFORMANCE: Netflix gained 2 million U.S. subscribers to its Internet video service during the final three months of last year, propelling the company to a surprising fourth-quarter profit of $8 million. Analysts had projected Netflix would sustain a loss as it grappled with rising expenses and stiffer competition.

INVESTOR EXUBERANCE: After the numbers came out late Wednesday, Netflix's volatile stock soared more than 35 percent in extended trading. The stock appears bound for a new 52-week high in Thursday's regular trading session.

COMING ATTRACTIONS: Netflix believes its video-streaming service can add as many as 2.1 million customers in the current quarter ending in March.

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