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Netflix beats estimates and increase monthly membership fees for new subscribers

 (Image source: digitaltrends.com)

Netflix, Inc. (NASDAQ:NFLX) is trading higher today after the video streaming company reported stellar first quarter earnings. Earnings for the first quarter came in at 86 cents a share, three cents above estimates. The company was able to add 4 million new subscribers. In addition, Netflix will increase its U.S. prices for new subscribers by $1 to $2. The hike in price according to Netflix will not produce a backlash from customers.