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FX.co ★ Netflix Inc. Bottom Line Climbs In Q1, Beats estimates

Netflix Inc. Bottom Line Climbs In Q1, Beats estimates

Netflix Inc. has announced considerable growth in its profits for the first quarter, outperforming market predictions.

The company reported a net income of $2.33 billion, which translates to earnings of $5.28 per share. For comparison, in the first quarter of the previous year, Netflix had reported a net income of $1.31 billion, or $2.88 per share.

Netflix's first-quarter results exceeded predictions made by industry analysts, who previously anticipated earnings of $4.26 per share, based on data gathered by Thomson Reuters. These predictions usually don't account for extraordinary items.

There was also a significant increase in the company's revenue. Over the course of the quarter, the revenue surged by 14.8% from last year's $8.16 billion to $9.37 billion.

To summarise the first-quarter earnings report of Netflix Inc. according to Generally Accepted Accounting Principles (GAAP): the net income was $2.33 billion compared to $1.31 billion last year, earnings per share (EPS) amounted to $5.28 compared to $2.88 last year, and revenue stood at $9.37 billion versus $8.16 billion last year.

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