Netflix blows past earnings estimates as subscribers jump 16%
Posted: Apr 18, 2024
- Netflix (NFLX) beat quarterly earnings and revenue estimates - Subscribers jumped 16% from the previous year - Netflix will no longer report paid memberships starting next year - The company is focusing on revenue and operating margin as primary financial metrics - Netflix reported first-quarter net income of $2.33 billion - The stock was up 27% year to date and around 85% over the last 12 months - Netflix is transitioning from focusing on subscriber growth to profit growth - The company is exploring new revenue streams like advertising and a crack down on password sharing - Investors are looking for more details on Netflix's foray into video games - Netflix may expand its live sports offerings, including a partnership with TKO Group Holdings (WWE) - The company is now using multiple price points for memberships and focusing on profit growth rather than just increasing subscribers.
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