Netflix shares surge as streaming giant stems customer defections

World's largest streaming service, with nearly 221m global paid subscribers, plans to launch an ad-supported option next year

Stranger Things has helped stem the loss of subscriptions for Netflix and the streaming giant is now working to build on the popularity of the series
 

Netflix said it lost fewer than 1m subscribers from April through June, averting the worst-case scenario projected by the company, and predicted it would return to customer growth during the third quarter.

Netflix shares, which have fallen roughly 67% this year on concerns about future growth, rose around 7% in after-hours trade following the results.