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LOS ANGELES — Netflix reported earnings that beat on the top and bottom line after the bell Thursday.
Here are the results:
- Earnings per share: $5.28 per share compared with the $4.52 per share expected by LSEG
- Revenue: $9.37 billion compared with the $9.28 billion expected by LSEG
- Total memberships: 269.6 million compared to 264.21 million expected, according to Street Account
The streaming company is navigating its transformation from targeting subscriber growth to focusing on profit, as it uses price hikes, a crackdown on password sharing and an ad-supported tier to boost revenue. Investors are looking for signs that these efforts are still boosting Netflix and seeking more details about the company’s foray into video games.
Netflix could also provide more insight into its partnership with TKO Group Holdings to bring WWE to the platform. The company has teased that it would like to expand its live sports offerings.
As of Thursday morning, the company’s stock was up 27% year to date and around 85% over the last 12 months.
This is a breaking news story. Please check back for updates.