Netflix (Nasdaq: NFLX) shares hit an all-time high Tuesday, closing at $324.62 after gaining nearly 5 percent during the day. The bump came after stock analysts at MKM Partners wrote a note to investors saying the company's international growth could exceed expectations.
The boost in stock price and market valuation--the company ended the day with a market cap of more than $19 billion--also followed announcements that Netflix is increasing its distribution overseas with the help of more cable operators.
On the heels of a similar deal in the U.K. with Virgin Media, Netflix and TiVo have partnered with Sweden's Com Hem to integrate Netflix's app and program listings into the TiVo devices Com Hem will lease to subscribers.
Netflix Chief Financial Officer David Wells told investors at a Goldman Sachs conference last week that the company is open to doing similar deals with more cable operators. "It's up to the MVPD to decide how much of a competitor they view us as," he said. He said the Virgin-TiVo deal could serve as a template for other companies to follow.
For more:
- the Los Angeles Times had this report
- Multichannel News had this report
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