Netflix stock soars on huge subscriber growth

Netflix's blistering rate of growth continued in the fourth quarter of 2013. More than 2.3 million new American households signed up for the streaming service, its best quarterly performance in three years.

On the news, the company's stock rose about 16 percent in after-hours and pre-market trading, according to CNNMoney.

Netflix reported revenue of $1.2 billion during the fourth quarter, up from $1.1 billion a year earlier. Net income rose to $48 million from $32 million.

Read more from CNNMoney.