Shares of Netflix ( NFLX 11.87%) charged sharply higher on Wednesday, surging as much as 14.9%. As of 10:58 a.m. ET, the stock was still up 11.1%. The catalyst that propelled the streaming pioneer higher was the company's financial results, which were much better than investors had anticipated.

Netflix (NFLX) stock jumped by over 14% in pre-market trading on Wednesday, following a blockbuster report that revealed an unprecedented 18.9 million new subscribers in the fourth quarter, along with revenue and earnings figures that handily surpassed expectations.

Netflix stock (NFLX) surged, after the streaming service reported the highest-ever level of quarterly subscriber gains and said it plans to raise U.S. prices across the board. In recent premarket action,