Netflix stock just hit an all-time high as it approaches 65 million streaming subscribers

King of the streaming world.
King of the streaming world.
Image: Reuters/Mike Cassese
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Netflix’s share price just set a new record ahead of the company’s second-quarter earnings report, which is due July 15 after the market close.

Shares reached $716.16 today (July 13), according to Yahoo Finance. That represents a 5% increase over last Friday’s (July 10) closing price. And it’s more than double Netflix’s 52-week low, which it reached in mid-January.

Why the increased optimism?

Netflix seems to be achieving its growth targets, especially around international expansion, according to several new Wall Street research reports.

The company is expected to report about 600,000 new US streaming subscribers for the second quarter, and 1.9 million international subscribers. That would put Netflix close to 65 million total subscribers.