ConsumerTop Stories

Netflix Q1 Results: Revenue Misses Estimates But Subscriber Growth Rises

Netflix (NASDAQ: NFLX) reported Q1 financial results with $8.16 billion in revenue.

Up 3.7% YoY, narrowly missing the $8.18 billion estimate. Earnings per share were $2.88, beating the $2.86 estimate. The streaming giant had 232.5 million global paid subscribers, a 4.9% YoY increase, with 1.75 million net new subscribers added in Q1.

Revenue growth was seen in the UCAN (8%), LATAM (7%), and APAC (2%) regions, while the EMEA region experienced a 2% decline. Popular returning and new shows contributed to Q1 success, and the ad-supported tier exceeded initial expectations with minimal downgrading from standard and premium pricing.

Netflix is discontinuing its DVD-by-mail service on September 29, 2023, after 25 years. The company forecasts Q2 revenue of $8.24 billion, up 3.4% YoY, and earnings per share of $2.84. It will continue to focus on new plans and pricing models globally to meet customer demands.

The streaming service aims to achieve long-term double-digit revenue growth, operating margin expansion, and free cash flow growth through improvements in member experience and monetization. Netflix shares fell 0.33% to $332.59 in after-hours trading, within a 52-week range of $162.81 to $379.43.

Read More:

???? This 15 Cent Earned, Wage Access Company, is Eating the Lunch of its Much Larger Fintech Competitors

???? Chanson International Holding Announces Pricing of IPO

Follow Wealthy VC on Social Media: Facebook | Instagram | Twitter | LinkedIn | GETTR | Tumblr

????Join the Discussion in the Wealthy VC Investor Group

????Have a Stock Tip or New  Story Suggestion? Email us at Invest@WealthyVC.com

Justin Hopper

Justin Hopper is an editor of the digital media at Wealthy VC and TCI. If you have questions don't hesitate to reach out! Twitter | Email

Related Articles

Back to top button