Netflix Soaring 7% On International Expansion

Netflix, Inc. NFLX shares are surging today, as the company announced this morning it would be expanding into 43 international countries in Latin America, far more than anyone thought. The company announced it will expand its services to 43 countries in Latin America and the Caribbean, its second venture outside of the United States. "It makes a lot of sense," said Atul Bagga, an analyst at Think Equity. "I think that there is a lot of room for growth in these markets." Currently, Netflix has around 23 million subscribers, and the Latin American market has an estimated 215 million users. The U.S. according to Bagga, has 245 million potential users. At last check, shares were up $18.81 to $286.80, a gain of 7.02%‎ on 4.1 million shares.