Netflix Inc. Profit Falls In Q1, but beats estimates

(RTTNews) - Netflix Inc. (NFLX) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.31 billion, or $2.88 per share. This compares with $1.60 billion, or $3.53 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.7% to $8.16 billion from $7.87 billion last year.

Netflix Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.31 Bln. vs. $1.60 Bln. last year. -EPS (Q1): $2.88 vs. $3.53 last year. -Analyst Estimates: $2.86 -Revenue (Q1): $8.16 Bln vs. $7.87 Bln last year.