BERKELEY, Calif. (AP) — Netflix is cementing its status as one of the world's most essential services during a pandemic as more people latch on to its vast video library as a source of entertainment and comfort during a time when there is almost nowhere to go but home.
The video streaming pioneer picked up nearly 16 million global subscribers during the first three months of the year in a performance that more than doubled the growth that Netflix forecast in January, well before the COVID-19 outbreak began to shut down the economy.
The performance announced Tuesday lifted Netflix's already soaring stock to new highs.
