Netflix (NFLX) shares are rising in today’s, January 20th, premarket by almost 7.5% after the famous streaming service provider reported it added many more subscribers than anticipated in Q4. Netflix shares fell during the regular session, but are jumping thereafter.

Netflix said global streaming net additions were 7.66 million, higher than its earlier guidance of 4.5 million and also well above analysts’ estimates. Netflix credited the increase to both strong acquisition and retention, driven primarily by the success of the company’s programming lineup during the period.

Netflix also noted Q4 revenue rose 1.9% to $7.85 billion, in line with forecasts. It attributed that to a 4% jump in average paid memberships. However, earnings per share (EPS) of $0.12 was much lower than expected. The company anticipates current quarter EPS of $2.82, with sales up 3.9% to $8.17 billion.

Netflix also announced co-founder and co-CEO Reed Hastings is stepping down. Hastings will remain executive chair. Co-CEO Ted Sarandos will be joined by current COO Greg Peters as co-CEOs. Hastings explained in a blog post that the board has been discussing succession planning for many years, and both he and the board agreed “it’s the right time” to make the change.

Despite improving operational statistics, we tend not to build overexpectations around NFLX, since it’s been operating in a highly competitive environment with major rivals leveraging more and more creative deals for their subscribers. On top of that, the resignation of the company’s CEO hints at a turbulent time ahead.