Price increases and healthy subscriber growth pushed Netflix’s earnings up by 24 per cent in the first quarter, as viewers flocked to watch the psychological crime series Adolescence and live streams of WWE wrestling.
The streaming company’s net income was $2.9bn, up from $2.3bn a year earlier, on revenue of $10.5bn. Its earnings per share of $6.61 were ahead of Wall Street forecasts of $5.71.
Netflix shares have performed well this year, rising 10 per cent while the tech-heavy Nasdaq Composite has fallen by 16 per cent due in part to concerns about President Donald Trump’s tariff policies. Netflix shares jumped another 5 per cent in after-hours trading in New York on Thursday.
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