"However, given Netflix's longtime leadership and extensive content library, competitors will be hard-pressed to build streaming businesses that can aspire to become market leaders".
Netflix's stock rose 7% to $371.08 on Wednesday.
As for earnings, Netflix generated $4 billion compared to the $3 billion it took in a year earlier.
The video streaming pioneer shocked Wall Street last quarter by falling short of new subscriber estimates, but Tuesday's figures put its total customer base at 137 million worldwide, two million more than consensus forecasts.
New customers were lured in by returning seasons of "Orange is the New Black" and "Marvel's Luke Cage", as well as new shows such as "Ozark" and "Maniac", the limited series starring Emma Stone and Jonah Hill, Netflix said. Said eMarketer media analyst Paul Verna.
Analysts pointed to "solid trends" in India, where the success of homegrown shows like Sacred Games and Ghoul have helped raise its profile and hopes for future growth in the developing world's most populous markets.
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Netflix has said it plans to invest some $8 billion in original content.
Shares of the company were up 10 percent at $381.21 before the bell.
Of course, the quarter also attracted its share of controversy, including the debut of Insatiable, which earned accusations of fat-shaming. Netflix doesn't break out its users by market, with the exception of the U.S., though most analysts agree that the UK, Brazil, Canada and Mexico rank among the company's largest. Netflix said it signed up roughly 1.1 million subscribers in the United States, above analysts' estimate of 674,000, according to Refinitiv. In all, Netflix added nearly 2 million more subscribers than the 5.09 Wall Street expected.
Total streaming net change for fourth quarter: 9.4 million.
The results, which beat analysts expectations by about 2 million, sent the company's stock soaring about 15 percent during after-hours trading.
The record number of additions in the latest period confirmed its rank as by far the world's biggest online subscription video service.
Netflix has spent almost US$7b on programming through the first nine months of the year, and plans to boost its investment in the years to come. Disney and AT&T Inc, the parent of Warner Bros. and HBO, are each looking to introduce new services next year - after completing takeovers of other companies worth a combined $160 billion.