After 25 years of leadership, Netflix announced that co-founder Reed Hastings is stepping down as CEO.
The move comes after the US streaming giant ended last year with more than 230 million global subscribers, beating analysts' expectations as hits such as "Wednesday" and "Harry & Meghan" enticed new viewers.
Netflix became a publicly traded company in early 2002 at an opening price of $15 a share.
Shares in the streaming television service were up nearly 7 percent to $337.31 in after-market trades that followed release of the earnings figures.