Netflix hits all-time high after crushing earnings

Netflix took off after announcing better than expected earnings for the second quarter.

The company added 5.2 million total streaming subscribers, which was much higher than the 3.2 million expected by Wall Street. It also beat Wall Street's guidance numbers for the third quarter, saying it expects 4.4 million new subscribers compared to the 3.99 million expected, according to data from Bloomberg.

The news sent shares of Netflix rocketing higher. Shares were up 8.36% higher, and are trading at an all-time high of $175.18 in after-market trading. The company's previous intraday high was $166.87 on June 30 of this year.

RELATED: Check out the top companies of 2017, according to Fast Company:

Fast Company's 2017 top companies
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Fast Company's 2017 top companies
20. Illumination Entertainment -- For creating a monster out of a Minion

[Illustration: Ollanski]

To see the full list of the World's 50 Most Innovative Companies of 2017, visit Fast Company.

18. Buzzfeed -- For feeding a viral fever

[Illustration: Alexis Facca]

17. Airbnb -- For putting a world of experiences at our fingertips

[Photo: courtesy of Airbnb]

16-11. Dalian Wanda, Huawei, Electronics, BBK, Xiaomi, Tencent, Alibaba -- For ramping up the pace for the world

[Illustrations: Edel Rodriguez]

09. Chobani -- For stirring it up in the grocery store

[Photo: Jason Alden, Bloomberg via Getty Images]

08. Twilio -- For giving apps a voice

[Illustration: Jamie Cullen]

07. Netflix -- For making surfing fun again

[Illustration: Matt Rota]

06. Facebook -- “It’s creativity with technology,” says Facebook’s Sheryl Sandberg of the company’s efforts to develop ad products that drive sales

[Photo: Mark Mahaney]

04. Apple -- For baking in its advantages

[Illustration: Travis Coburn]

03. Uber -- For accelerating autonomous driving

[Illustration: courtesy of Uber]


Subscriber growth is one of the most important numbers for the company, as it doesn't have advertisements on its platform. The company brought in $2.78 billion in revenue, compared to the $2.76 expected, on the back of the subscriber growth.


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The company missed slightly on earnings per share, bringing in $0.15 compared to the $0.16 expected.

Netflix is up 37.66% this year, including Monday's move.

Click here to read more about Netflix's stock price...

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