Netflix trounces expectations

Netflix reported a spectacular rise in user numbers last night, sending shares in the video streaming company up by more than 40 per cent in after hours trading. The company, which set up in the UK this time last year, said it now has 33m subscribers, 10m more than at this time last year, following international expansion and the increasing popularity of tablet computers. Netflix profits fell to $8m (£5m) as it invested in new content.