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Netflix Stock Surges on Subscriber Beat

By Charlie Wright
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Netflix is pushing out content like the Bling Empire series to attract viewers.

Courtesy of Netflix

Netflix posted better-than-expected subscriber growth in the fourth quarter, adding 7.66 million net new subscribers, well ahead of the 4.5 million the company had projected.

The company also announced that founder and co-CEO Reed Hastings was moving to the executive chairman role to “complete our succession process.” Netflix said that Chief operating officer Greg Peters will join Ted Sarandos as co-CEO of the company.

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