Overview
- Netflix achieved its highest-ever Q1 revenue of $10.54 billion, a 12.5% year-over-year increase, and earnings per share of $6.61, beating Wall Street estimates.
- The company stopped reporting quarterly subscriber counts, emphasizing revenue, operating margins, and engagement as key performance metrics.
- Ad-supported tiers accounted for over 55% of new sign-ups, reflecting strong adoption of the lower-cost subscription option introduced in late 2022.
- Price hikes in major markets, including the U.S., U.K., Argentina, and France, contributed significantly to revenue growth.
- Co-founder Reed Hastings transitioned from executive chairman to non-executive board chair, marking a leadership shift during a period of sustained financial growth.