Netflix Delivers Mixed Results In First Quarter Since Reed Hastings’ Departure As Co-CEO
deadline.comNetflix delivered a mixed set of results for the first quarter, edging Wall Street analysts’ estimates for earnings per share but falling short in other key categories.
The consensus expectation of Wall Street analysts was for earnings per share of $2.86, revenue of $8.18 billion and a gain of 2.26 million net paid subscribers.
Netflix reported EPS of $2.88, revenue of $8.16 billion and an increase of $1.75 million subscribers. Netflix’s numbers kick off what is likely to be a touch-and-go earnings season for media and tech companies, with many of them beginning the year still under a cloud due to advertising softness and economic headwinds.
Over the next few days, Comcast, Spotify, Roku, Meta and Alphabet will report financials. The results reflect the first full quarter when Netflix’s cheaper, ad-supported tier has been available in about a dozen global territories.
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