Netflix shares soar as subscriber base grows to record high after push into live sports streaming

Netflix shares soared in premarket trading on Wednesday after the company reported a blockbuster holiday quarter as a robust content line-up and its entry into live sports streaming brought in a record number of new subscribers.

The streaming giant’s stock surged over 14% to $994.36, poised to boost its market capitalization by $53 billion to about $425 billion, if gains hold.