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Netflix (NFLX)

Netflix shares went up after releasing its quarterly results and announcing co-founder Reed Hastings is stepping down as chief executive officer, leaving the position to Ted Sarandos and Greg Peters.

Sarandos is already co-CEO of the streaming giant.

Netflix’s quarterly revenue came in at $7.85 billion versus a consensus estimate of $7.86 billion and earnings per share of 12 cents vs. Wall Street expectations of 42 cents. The streaming platform added 7.66 million subscribers,…

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