Streaming Giant Netflix Reaches 40 Million-Plus Subscribers

Netflix continues to attract streaming competitors, witness a new movie service from retail giant Target. The company behind House of Cards and Orange is the New Black can take solace in the latest stock news and subscriber stats.

Netflix now has more than 40 million subscribers worldwide, it announced in its third quarter earnings report on Monday, sending its stock price up more than 9 percent in after-hours trading and establishing a new high for the company.

Netflix has been exultant for months thanks to the success of its original series, its first Emmy wins (and nominations) and a share price that has set personal bests several times.While naysayers have insisted subscriber growth would slow, the company’s executives have long projected their subscriber base would grow to anywhere from 60 to 90 million.