Overview
- Netflix shares fell more than 8% after Thursday’s earnings release and later dropped about 10% in early trading as investors weighed the outlook.
- First‑quarter revenue rose 16% to $12.25 billion and net income reached about $5.28 billion, which was nearly double a year ago.
- A $2.8 billion termination payment tied to a canceled Warner Bros. Discovery deal materially boosted profit and lifted cash flow for the quarter.
- The company projected roughly 13% revenue growth for the second quarter and reiterated a 2026 advertising goal of about $3 billion.
- Reed Hastings will leave the board in June, cementing the post‑founder era as co‑CEOs Greg Peters and Ted Sarandos continue to run the business.