Netflix Subscriber Count Crosses 62 Million Sending Stock Above $500

Netflix closed out the first quarter with 62.3 million members, adding 4.9 million new users in the first three months of the year. In January the streaming company forecast that over the quarter it would add 4 million new subscribers for a total of 57.4 million. With all eyes on subscriber growth Netflix shares shot up close to 12% following the company's after hours release Wednesday, crossing the $500 mark for the first time ever and settling over $530 in the first half hour of trading.