Netflix Adds 9.3M Subscribers In Another Strong Quarter
deadline.comNetflix added 9.3 million subscribers in the quarter ended March 31, reaching 269.6 million worldwide, and outperformed expectations in other key areas in its latest strong financial report.
Revenue and earnings per share both handily exceeded Wall Street forecasts at $9.37 billion and $5.28, respectively. The top line was up 15% from the same quarter in 2023, while EPS came in at nearly double the year-ago period’s $2.88.
In its quarterly letter to shareholders, Netflix made the surprising disclosure that it plans to stop reporting subscriber totals and average revenue per subscriber starting with its first quarter results in 2025. “In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,” the letter said. “But now we’re generating very substantial profit and free cash flow (FCF).
We are also developing new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth.
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