The American streaming giant Netflix announced that it ended the first quarter of 2024 with a net profit of $2.33 billion, or $5.28 per share, better than the $1.30 billion, or $2.88 per share, reported in the same period of the previous year.
Revenue rose to $9.37 billion, up from $8.16 billion in the first quarter of 2023.
Earnings per share beat analysts’ estimates, who had expected an EPS of $4.52.
Revenue was also better than expected, given that analysts had expected a value of $9.28 billion.
Focus on the number of subscribers which, globally, stood at 269.6 million, compared to the 264.2 million expected, with growth in the first quarter of +16%, equal to +9.3 million of users.
In afterhours trading on Wall Street, Netflix shares lost almost 5% after the giant’s big announcement, which announced that, starting from the first quarter of 2025, it will no longer announce quarterly data relating to subscriber growth and average revenue per user.