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Investors are probably being a little over-negative, notes James E. Demmert. He discusses the takeaways from Netflix's (NFLX) earnings.
Netflix is tumbling after posting first quarter results.
Concerns about long-term growth are overshadowing an impressive earnings report.
Netflix reported strong quarterly financial results and raised aspects of its full-year guidance. The company will stop regularly reporting how many subscribers it has starting next year and for many investors, that's a problem.
Netflix (NFLX) stock is falling Friday morning despite reporting breakout growth of 9.3 million new subscribers in its first-quarter earnings report. Going forward, the streaming giant will not be disclosing subscriber figures in future earnings results.
Shares of Netflix (NFLX) are trading lower in Friday's pre-market session after the company reported its first-quarter earnings results on Thursday. Yahoo Finance's Alexandra Canal breaks down the biggest takeaways from Netflix's earnings, including positive yields tied to its password-sharing crackdown policy, its ad-supported tier, and what the streaming giant is changing about how it reports earnings in future quarters.
Netflix's (NFLX) top line gains from 9.33 million subscriber additions in the first quarter of 2024. The company however predicts a sequential decline in the second quarter due to typical seasonality.
Netflix (NFLX) topped both earnings and revenue estimates and delivered its strongest first-quarter customer additions since the pandemic. However, it issued disappointing second-quarter revenue guidance, which dragged the stock down.
Netflix Inc (NASDAQ:NFLX) stock is 8.2% lower to trade at $560.74 today, following a mixed first-quarter report.
Netflix has just announced that it will stop reporting quarterly subscriber numbers, which will kick off in the first quarter 2025 earnings, as it doesn't view them as important as other metrics the service tracks. This comes after it had stopped providing guidance on paid membership numbers in 2023, and they say they will also now stop reporting average revenue per member.