"Shares of Netflix rose almost 14% midday Thursday, after its fourth-quarter earnings report showed strong growth in the company's subscriber base and sales.
After the closing bell Wednesday, Netflix reported earnings of 87 cents per share. That was a 55% jump over the year earlier, and it handily beat Wall Street estimates. Revenue grew 34% over the prior year, to $596 million.
Netflix (NFLX) said it now has 20 million subscribers, which is a 63% increase from the same period last year. Netflix linked the increase to the popularity of its streaming video, and said the subscriber growth will allow it to invest more in that content."