Overview
- Netflix reported Q1 revenue of $10.54 billion and earnings per share of $6.61, surpassing Wall Street estimates and reflecting a 12.5% year-over-year revenue increase.
- The company has stopped disclosing subscriber numbers quarterly, emphasizing financial metrics such as revenue, operating income, and engagement instead.
- Ad-supported subscription tiers accounted for over 55% of new sign-ups in available markets, with membership growth of approximately 30% quarter-over-quarter.
- Netflix projects Q2 revenue of $11.04 billion with an operating margin of 33%, driven by membership growth, higher pricing, and expanding ad revenue.
- Co-founder Reed Hastings transitioned to a non-executive chairman role, marking a significant leadership shift for the company.