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Netflix forecasts an end to borrowing binge, shares surge

Netflix said on Tuesday its global subscriber rolls crossed 200 million at the end of 2020 and projected it will no longer need to borrow billions of dollars to finance its broad slate of TV shows and movies.

Rege-Jean Page and Phoebe Dynevor are seen in an undated handout still from the Netflix series "Bridgerton". [Netflix/Handout via Reuters]

Shares of Netflix rose nearly 13 per cent in extended trading as the financial milestone validated the company’s strategy of going into debt to take on big Hollywood studios with a flood of its own programming in multiple languages.

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