Netflix beats forecasts with 62 million streaming subscribers

BETTER THAN EXPECTED: Net subscriber additions rose 22% year-over-year to 4.88 million in the March quarter, beating the company's forecast of 4.05 million.

Video streaming pioneer Netflix Inc added more subscribers than projected in the United States and abroad during the first quarter, news that sent its shares up nearly 12%. 

Net subscriber additions rose 22% year-over-year to 4.88 million in the March quarter, beating the company's forecast of 4.05 million.