By Jonathan Davies

Netflix shares grew by 13% in after-hours trading after it reported a better-than-expected rise in customer numbers.

Five million people joined the video streaming service in the first quarter of 2015, taking its total number of customers to 62.3 million.

Netflix also reported a 23% rise in revenue $1.57bn (£1.06bn), although profit was down slightly from a year earlier at $23.7m.

Netflix shares have already risen by around 40% since the start of the year. But it is coming under increasing pressure and competition from rivals services which are starting to produce their own original content to rival the likes of Netflix's hit programmes House of Cards and Orange is the New Black.