Netflix reports mixed earnings as password crackdown set to expand

  • 📰 calgarysun
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 52%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Netflix beat Wall Street earnings estimates for the first quarter but offered a lighter\u002Dthan\u002Dexpected forecast on Tuesday.

Shares of Netflix dropped as much as 11% in after-hours trade following the report but recovered to gain 1.4%.

The company began rolling out its solution for password-sharing – offering a “paid sharing” option – in 12 countries in February but is delaying expansion.Article content For April through June, the company forecast $8.242 billion in revenue and $2.86 in diluted EPS. Wall Street had been projecting $8.476 billion for revenue and $3.05 for diluted EPS.

Netflix added nearly 9 million subscribers in 2022, half as many as the 18 million gained in the prior year, with much of that growth coming from Asia, notes research firm MoffettNathanson. The gains it made in Asia and Latin America have impacted the average revenue per user, spurring Netflix to make changes to its business model, the firm said.

 

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:

 /  🏆 63. in CA

Canada Canada Latest News, Canada Canada Headlines