After reporting strong subscription growth and better-than-expected second-quarter profit, Netflix went on a tear today, spiking around 18 percent in regular trading. The company is also up after hours.
Let’s do a chart, just for fun:
That’s got to feel good.
It’s been a very busy week for Netflix, which managed an earlier record high ahead of its stock split and earnings. Off the back of that, Netflix cut its shares into sevenths, lowering its price to the roughly $100 mark. Then it rocked the earnings report and took flight.
Netflix ended the day worth $49.51 billion, or roughly as much as Uber.
In related news, Google also reported better-than-expected earnings, sending its shares up 10 percent. Oh, and Intel did damn well itself, picking up a 6 percent bump from investors for its earnings.
So far we are off to a very strong cycle of technology earnings from a variety of companies. Most majors have yet to report, let alone the smaller public tech firms, but signals, so far, are positive. That fact may keep the NASDAQ around 5,000, if not a touch higher.