Netflix reports strong subscriber gains as earnings surge past estimates

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Netflix News

Consensus Estimates,Quarter Earnings,Consensus Expectations

Netflix reported first quarter earnings after the bell on Thursday. Here's what to know.

) reported first quarter earnings that beat across the board on Thursday with another 9 million-plus subscribers added in the quarter.

Earnings per share also beat estimates in the quarter with the company reporting EPS of $5.28, well above consensus expectations of $4.52 and nearly double the $2.88 EPS figure it reported in the year-ago period. Netflix guided to second quarter EPS of $4.68, ahead of consensus calls for $4.54. The company previously guided to full-year 2024 operating margins of 24% after the metric grew to 21% from 18% in 2023. Netflix expects margins to tick down slightly in Q2 to 26.6%.Meanwhile, average revenue per member, or ARM, ticked up 1% year over year — matching the fourth quarter results. Wall Street analysts expect ARM to pick up later this year as both the ad tier impact and price hike effects take hold.

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