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Netflix reports mixed earnings as password crackdown set to expand

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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.

 

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