Streaming media giant Netflix (NFLX.US) announced a 1-for-10 stock split and rose over 3% after hours.

According to the Securities Times APP, streaming media giant Netflix (NFLX.US) announced on Thursday that its board of directors has approved a 1-for-10 stock split to make the company's stock price more accessible for employees to participate in stock option plans. After the announcement, Netflix's stock price rose more than 3% in after-hours trading.