Netflix's earnings announcement revealed that its original shows, from Daredevil to Orange is the New Black, are big business.

The video streaming company posted higher-than-expected earnings and revenue in line with estimates as it continues to pump billions of dollars into original shows, movies and documentaries and spread its service across the world.

"We anticipate that as our global content spend approaches $5 billion in 2016... we will devote more investment to originals both in absolute dollars and percentage terms. This includes not only series, documentaries and stand-up but also original feature films," Netflix told investors in its quarterly earnings call.

Netflix recorded growing revenue of $1.64 billion, compared to $1.57 billion three months ago.

It also added 3.3 million new streaming members, compared to 1.7 million in the same time in the previous year. The company has 42 million members in the US and 23 million internationally.

Netflix is spending massively on creating its own shows and movies with sights set on eventually making half of all videos original content. Right now, that number is only around 7-8%, according to the call.

Some of its newer releases have include Marvel’s Daredevil, a science fiction series called Sense8 and the third season of its popular comedy Orange is the New Black. This fall, it is set to release its first feature film, a war drama called Beasts of No Nation directed by True Detective’s Cary Fukunaga.

That strategy seems to be paying off. The company reported second-quarter earnings of 6 cents per share, down from the 16 cents a share it reported in the same quarter last year. The results beat analyst estimates of 4 cents a share, but the company fell just shy of the expected $1.65 billion in revenue, according to an estimate from Thomson Reuters.

Netflix shares soared by as much as 11% in after hours trading following the announcement.

NFLX data by YCharts

But ramping up growth also comes with a set of risks. The uncertainty is apparent in Netflix's 63% drop in profits this quarter, which was attributed to the rising cost of making and buying videos and a strong U.S. dollar that hurt overseas revenues.

The streaming service grew international revenue 48% year over year, but is still recording losses. This year it plans to expand to Japan, Spain, Italy and Portugal, adding China in 2016, with goals of streaming in 200 countries by the end of next year.

Netflix CEO Reed Hastings said in an earnings call that the company has no plans to drastically change the structure of subscription prices as it grows.