Fans gather at the Netflix booth for a fair.
Mike Blake | Reuters
Shares of Netflix rose more than 20% on Tuesday after the company reported a loss of 200,000 subscribers in the first quarter. This is the first time in more than a decade that the player has reported a loss of subscribers.
Here are the results.
- EPS: $ 3.53 vs $ 2.89, according to a survey of Refinitiv analysts.
- Income: $ 7.78 billion vs $ 7.9 trillion, according to a survey of Refinitiv analysts.
- Global increase in paid subscribers: A loss of 200,000 was expected compared to an additional 2.73 million, according to StreetAccount estimates.
Netflix told shareholders it expects to add 2.5 million net subscribers in the first quarter. Analysts predict that this number will be closer to 2.7 million.
Netflix’s share of new investor-paying customers fell sharply by 20% in January after the company’s latest earnings report. In addition to lower-than-expected fourth-quarter subscriber earnings, the company’s executives calmly acknowledged that competition from other streaming platforms has a negative impact on its growth.
Netflix has increased content spending, especially on original content, amid fierce competition in the streaming space. To pay, he has raised the prices of his service. While the company is looking at other ways to grow, such as adding video games, analysts and investors are wondering what else Netflix can do to increase revenue.
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Netflix (NFLX) earnings in Q1 2022
Source link Netflix (NFLX) earnings in Q1 2022