At the end of the first quarter, the company had a total of 207.6 million streaming paid memberships, which is up 14% from last year. Revenues climbed 24% annually to $7.16 billion and exceeded Wall Street’s projection.
Consequently, net income surged to $1.71 billion or $3.75 per share from $709.1 million or $1.57 per share in the first quarter of 2020. Market watchers had forecast a slower growth.
Read management/analysts’ comments on Netflix’s Q1 report
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Shares of the company declined Tuesday evening soon after the announcement, after closing the regular session lower.
