Netflix’s financial report highlights that 9.33 million subscribers have joined the streaming service.
Netflix reported its first quarter earnings report today, and there’s a lot for the content giant to be happy about. The company opens the report by stating that “revenue increased 15%, our operating profit grew 54%, and our operating margin increased seven percentage points to 28%.”
Netflix first quarter report
Netflix’s financial strength was further underlined by its revenues of $9.37 billion, a figure that exceeded the $9.26 billion expected by analysts and industry experts. This translates to impressive earnings per share of $5.28, beating the expected $4.51.
Netflix’s report reveals a staggering 270 million subscribers in over 190 countries, averaging more than two people per household. This translates into an audience of more than half a billion people, a reach and ambition unmatched in the entertainment industry. The report highlights that “to satisfy such a broad audience, we strive to offer a diverse range of compelling stories that satisfy the most diverse tastes.”
The improvement in subscriber numbers can be attributed to a crackdown on password sharing. Netflix is ​​determined to reduce the number of users who can access a single account, so the increase in numbers could be attributed to the presence of that brick wall and those hoping to access its catalog will have to pay.
Netflix also capped executive salaries. However, according to Hollywood Reporter co-CEO Greg Peters, his annual compensation grew from $26 million last year to nearly double the following year. So shareholders of the streaming platform must be happy with this upward trajectory.
This SEC filing would include Peters’ base salary of $2.89 million, stock awards of $22.7 million, a bonus of $13.9 million, and all other compensation totaling $620,602, relating to the use of the company’s aircraft.”
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