Netflix shares surged as much as 16% on Wednesday, adding $17 billion in market value. AdvertisementNetflix shares jumped as much as 16% on Wednesday, after the streaming giant's third-quarter earnings beat Wall Street's revenue and profit forecasts. The stock surge added about $17 billion to Netflix's market capitalization, lifting it to $124 billion. Advertisement"Thank God we're done with shrinking quarters," co-CEO Reed Hastings said during Netflix's earnings call on Tuesday. Netflix shares are still down about 54% this year, representing a roughly $140 billion decline in market value.

Source: Economic Times October 19, 2022 16:26 UTC