Netflix blows past earnings estimates as subscribers jump 16%

Netflix will no longer provide quarterly membership numbers or average revenue per user starting next year, the company said Thursday as it reported earnings that beat on the top and bottom line.
Total memberships rose 16% in the quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected. However, this quarter will be one of the last glimpses investors get of the company’s subscriber base going forward.

Netflix also noted that it expects paid net additions to be lower in the second quarter compared to the first quarter “due to typical seasonality.”
Shares of the company fell around 3% in extended trading.

Here are the results:
Earnings per share: $5.28 vs. $4.52 expected by LSEG
Revenue: $9.37 billion vs. $9.28 billion expected by LSEG
Total memberships: 269.6 million vs. 264.2 million expected, according to Street Account
Netflix reported first-quarter net income of $2.33 billion, or $5.28 per share, versus $1.30 billion, or $2.88 per share, in the prior-year period.
The company posted revenue of $9.37 billion for the quarter, up from $8.16 billion in the year-ago quarte