Netflix stocks hit record high making it more valuable than Disney - but only for a few hours

The streaming giant also surpassed estimations on subscriber growth, with a total of 125 million worldwide

(REUTERS/Mike Blake)

Netflix's incredible rise to dominance reached a new peak, as stocks briefly rose - for the first time - higher than media giant Disney.

Shares of Netflix closed up 1.3% on Thursday, to $349.29 per share, giving the company a market cap of $151.8 billion. Disney's stock, meanwhile, fell 0.8% in trading Thursday, to close at $102.11 per share, yielding a market cap of $152.2 billion, Variety reports.

Netflix's market cap had already surpassed Comcast by that point, with shares down 0.8% on Thursday, giving it a market cap of $145.9 billion.

However, Netflix's market cap is a reflection more of investors' current enthusiasm - an indicator of potential future growth, rather than of present revenue. In that department, Disney still leads the way with revenue of $55.1 billion for 2017, while Netflix's revenue was at $11.7 billion.

Though the company keeps growing: Netflix surpassed estimations for subscriber growth for the first quarter of 2018, both in the US and abroad, with a total of 125 million worldwide.

Which will certainly be troubling news for Disney, which has already made plans to come in to direct competition with Netflix when it launches its own subscription service. Let the battle of streaming services commence.

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