Netflix Q1 Profit Tops Estimate; Guides Q2 EPS Above Consensus

(RTTNews) - Netflix, Inc. (NFLX) reported net income for the first quarter of $53.1 million or $0.86 per share, compared to $2.7 million or $0.05 per share for the year-ago quarter.

Revenue for the first quarter rose to $1.27 billion from $1.02 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.83 per share on revenue of $1.27 billion for the first quarter.

The company ended the first quarter with over 48 million global members, and topped $1 billion in quarterly streaming revenue.

Looking forward, the company forecasts second quarter earnings of $1.12 per share. Analysts currently expect the company to earn $1.00 per share for the second quarter.