News Formal

Netflix reports mixed earnings as password crackdown set to expand

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Netflix Inc beat Wall Street earnings estimates for the first quarter but offered a lighter-than-expected forecast on Tuesday, demonstrating the challenges that the mature streaming service faces in its pursuit of growth. Netflix said it shifted a wider launch of a plan to crack down on unsanctioned passwo

Netflix Inc beat Wall Street earnings estimates for the first quarter but offered a lighter-than-expected forecast on Tuesday, demonstrating the challenges that the mature streaming service faces in its pursuit of growth.

Revenue and earnings for the first quarter came in roughly in line with the average analyst estimates from Refinitiv. Earnings per share hit US$2.88 with revenue of US$8.162 billion. The company began rolling out its solution for password-sharing - offering a"paid sharing" option - in 12 countries in February but is delaying expansion.

For April through June, the company forecast US$8.242 billion in revenue and US$2.86 in diluted EPS. Wall Street had been projecting US$8.476 billion for revenue and US$3.05 for diluted EPS.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix winds down DVD rental businessNetflix Inc is winding down its DVD rental business, the company said in a blog post on Tuesday, ending the service it started around 25 years ago.The streaming service said the DVD business had been shrinking and it will not be able to continue to offer quality service. The company will ship the last dis 裁员？
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »