Netflix's net profit amounted to $2.3 bn for Q1

16:34 - 19.04.2024

April 19, Fineko/ Netflix Inc. increased the number of paid subscribers by 9.32 million in the first quarter compared with Q1 of 2023, which almost doubled the analyst forecast prepared by LSEG.

According to the company, Netflix numbered 269.6 million customers at the end of March. Over the year, their number grew by 37.1 million.
The company announced that from 2025 it will stop publishing information about changes in the number of subscribers, and investors need to focus on indicators such as revenue and operating profitability. At that, Netflix will inform if the number of users reaches any significant levels.

Netflix's net income for Jan-Mar 2024 was $2.332 bn, or $5.28 per share, compared with $1.305 bn, or $2.88 per share, for Jan-Mar 2023. Revenue increased by 14.8% to $9.37 bn from $8.162 bn.