Netflix shares jump as subscribers grow ahead of Disney, Apple attack
(Reuters) - Netflix Inc (NFLX.O) added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and Apple prepare to ramp up the streaming video wars. The results for July through September represented a rebound from the previous quarter when Netflix lost U.S. streaming customers for the first time in eight years and missed targets for overseas subscribers. That performance, combined with concerns about new competitors, had weighed on Netflix shares, which had fallen 21% from the last earnings report through regular trading on Wednesday. For the third quarter, Netflix was boosted by new seasons of shows such as "Stranger Things" and "13 Reasons Why." The company will release a new installment of "The Crown" and Martin Scorsese film "The Irishman" during that time. But it will face new competition starting in November from Disney+, a streaming service from Walt Disney Co (DIS.N) that will be stocked with movies and TV shows from Disney's popular Marvel, "Star Wars," animation and other properties.