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>> Shares of Netflix surging to an all time high after the streaming service reported adding millions of new subscribers both at home and abroad. The company signing up a million new paying viewers in the US but more than 4 million internationally. Well over the expectations of analysts who thought the number would be closer to 2 and a half million subscribers.
Reuters correspondent Lisa Richwine covers Netflix.>> Netflix had a much better quarter than anybody expected. Their international plan seems to be working, they're picking customers up in countries around the world, and they're predicting even more momentum ahead. Investors clearly believe them, the stock is at an all time high.
The international markets are where Netflix is really booming, things have slowed down in the US, the market is matured. Most people who want Netflix already have it, so the growth is really coming from overseas. Where Netflix is still a new phenomenon and people are signing up.>> The fifth season of House of Cards giving the company's typically slow second quarter a boost, Netflix moved the release date from the first quarter.
Netflix is spending $6 billion a year on content to draw new subscribers, as it competes for cord cutters with other streaming services like Amazon Prime in the battle for online movie and TV streaming dominance.>> I know exactly what they need.