Netflix Q1 EPS $5.28 Beats Estimates, $9.37B Revenue, Plans to End Subscriber Reports

Apr 18, 2024, 04:04 PM

Netflix reported its first-quarter earnings for 2024, surpassing Wall Street expectations with significant growth in subscribers and revenue. The streaming giant announced earnings per share (EPS) of $5.28, beating the estimated $4.52, and revenue of $9.37 billion, exceeding the forecast of $9.26 billion. Notably, Netflix added 9.33 million new subscribers, nearly doubling the expected 4.84 million. This performance marks a strong start to the year, with total subscribers now reaching 270 million globally. However, Netflix also disclosed plans to stop reporting quarterly subscriber numbers starting next year, a decision that has sparked discussions among investors and analysts. Despite the positive earnings report, Netflix's stock was down after the announcement. The company forecasts an EPS of $4.68 and revenue of $9.49 billion for the next quarter.