Netflix shares jump as overseas subscribers surge

Netflix, the streaming company behind the real-life thriller “Making of a Murderer”, has seen its shares climb 8% in after-hours trading, following an aggressive push for overseas subscribers.

The world’s biggest online broadcaster said it had 74.8 million subscribers at the end of December and expects to add at least 6 million more by the end of March.

Netflix’s acceleration in overseas subscribers follows its move into 130 countries earlier this month.

The streaming service is now available in 190 countries and Netflix hopes it may also be able to launch in China later this year, although it admits this may take longer.

However not all countries can view the same films and some countries are offered just 10% of the content that is available in the US.

New overseas customers are offsetting slower growth in America, the broadcaster’s biggest market. It added 1.56 million US subscribers in the fourth quarter, below the 1.65 million it forecast, and less than 1.9 million a year earlier.

The company, which makes its own drama as well as streaming Hollywood films, expects US subscribers to accelerate again this quarter when the hit show “House of Cards” returns.

Despite the rise in total subscribers, Netflix’s profit fell sharply, hit by rising costs for content and overseas expansion.

Revenue rose 22.8% to $1.82 billion in the final quarter of the year.