Netflix shares jumped over $100 for the first time since the company sold stock to the public eight years ago, the Hollywood Reporter reports.

The shares jumped 15% to $100.25 on Wednesday after investors responded to a "solid" earnings report that included favorable guidance.

What may be fueling investors’ appetite for the stock is its video-streaming-on-demand service, which allows subscribers to watch Netflix’s library without waiting for the mail delivery person to drop off a physical DVD.

Still, although Netflix’s VOD can be watched on popular devices ranging from the iPad to Wii, it faces stiff competition from Hulu, Blockbuster and others.