Netflix's stock price rises as the company announces increasing revenue and over 300 million subscribers.

The company's earnings, which exceeded expectations on both the top and bottom lines, caused shares to rise more than 10% after the market closed on Tuesday.

The company achieved a record addition of 19 million subscribers, reaching a total of 300 million paid memberships, which was attributed to its content slate, enhanced product offerings, and typical fourth-quarter seasonality.

The company's net income for the fourth quarter was $1.87 billion, or $4.27 per share, representing a 104% increase from the same quarter a year earlier, when net income was $938 million, or $2.11 per share. Revenue in the fourth quarter came in at $10.25 billion, which was 2% higher than the $10.11 billion Wall Street had predicted.

Here are the numbers for the company's most recent quarter:

• Earnings per share: $4.27 vs. $4.20, according to LSEG
• Revenue: $10.25 billion vs. $10.11 billion, according to LSEG
• Paid memberships: 301.63 million vs. 290.9 million, according to StreetAccount

This is a breaking news story. Please check back for updates.