Netflix quarterly results beat Wall St targets, revenue outlook upbeat
LOS ANGELES, April 17 (Reuters) - Netflix NFLX.O exceeded Wall Street expectations in its quarterly earnings report and offered a bullish revenue outlook on Thursday, signaling confidence amid the economic uncertainty surrounding President Donald Trump's erratic tariff plans.
The streaming giant also said its co-founder Reed Hastings had left his post as executive chairman to become the board's non-executive chair, "part of the natural evolution of our leadership structure and succession planning."
Netflix reported revenue of $10.54 billion for the first quarter, edging past analysts' estimates of $10.52 billion, according to data compiled by LSEG.
Diluted per-share earnings of $6.61 exceeded consensus estimates of $5.71. The company released hits such as the limited series "Adolescence", drama thriller "Zero Day" and the unscripted series "Temptation Island" during the quarter.
Looking ahead, the company projected revenue would rise to $11.04 billion for April through June, above the analyst consensus of $10.90 billion, "driven primarily by membership growth and higher pricing".
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