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Netflix CEO Reed Hastings. (GeekWire File Photo / Kevin Lisota)

News Brief: Netflix exceeded Wall Street’s expectations for its first quarter, adding another 7.4 million subscribers (2 million in the U.S.), up 50 percent year-over-year, as its total membership base grew to 125 million. It met expectations for profit and revenue, posting earnings per share of $0.64 on revenue of $3.7 billion. Shares were up more than 6 percent in after-hours trading. Netflix expects to spend another $8 billion this year on original content as it battles others like Amazon, Apple, HBO, and Hulu in the streaming world. Read the full earnings release and shareholders letter here.

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