Netflix regains its customers, stock up by 16pct

After an unpopular price increase of 60 percent with the video subscription service, Netflix has recaptured almost as many customers as it lost. On Wednesday, fourth quarter figures from Netflix Inc. , which ended in December, showed a gain of 24.4 million subscribers in the U.S. In September, the number was 23.8 million. Netflix gained roughly 600,000 customers compared to their lost of 800,000 last summer.

Netflix’s stock surged nearly 16 percent. After evaluating Internet forums and analyst notes for miscalculating how customers would react to higher prices, CEO Reed Hastings promised that the company would regain its consumer base. “You are never as smart or dumb as they say you are. We know we are just beginning to climb back in terms of consumer trust and affection,” Hastings said in a Wednesday interview.