Netflix hits record high as strong subscriber additions ease growth worries

FILE PHOTO: The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. REUTERS/Mike Blake/File photo

(Reuters) -Netflix shares hit an all-time high on Friday, buoyed by investor optimism that its robust content lineup will help the streaming giant maintain upbeat subscriber growth even as the boost from its password-sharing crackdown wanes.

The company, widely seen as the winner of Hollywood's streaming wars, saw its stock rise nearly 10% and was set to add more than $28 billion to its market value of about $295 billion, if gains hold.