Netflix holds its own in the streaming wars for now

Netflix is holding its ground in the streaming wars, passing its first big test since Apple and Disney launched rival services. The company added 8.8 million worldwide subscribers during its fourth quarter, surpassing expectations at a time when it faces heated competition. Netflix had said it expected to add 7.6 million subscribers, and analysts thought the service would fare even better. The increase pales slightly next to the 8.9 million subscribers the service added in the fourth quarter of 2018.The stock dropped about 2.5% immediately in after-hours trading, likely due to a cautious forecast for the first quarter. But shares rebounded and later traded up more than 2%. a pioneer in producing streaming media and binge-worthy shows — now boasts more than 167 million subscribers worldwide, bolstered by a list of well-received movies and shows released late last year. That includes the fantasy show “The Witcher” and Oscar nominees “The Irishman” and “Marriage Story.”