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4/16, 10:02 PM (Source: TeleTrader)
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Chart for: Netflix, Inc.

Netflix Q1 revenue rises 22% to $4.52B

American media-services provider Netflix announced on Tuesday its revenue in the first quarter of 2019 stood at $4.52 billion, marking a 22% rise compared to the same three-month period last year. The diluted earnings-per-share (EPS) came in at $0.76 in the same quarter, 18% higher than last year, on a net income of $344 million.

Meanwhile, the company recorded 9.6 million paid net additions, the most in its history and 16% higher compared to last year. Of that, 1.74 million additions were in the US and 7.86 million internationally. Average streaming paid memberships increased by 26% year-on-year to reach a total of 148.86 million.

Netflix also noted that it is working its way through a series of price increases in the US, Brazil, Mexico and parts of Europe. "The response in the US so far is as we expected and is tracking similarly to what we saw in Canada following our Q4’18 increase, where our gross additions are unaffected, and we see some modest short-term churn effect as members consent to the price change," the company stated.

Netflix shares reacted negatively to the earnings report, falling 1.15% in the after-hours trading despite closing the Tuesday session over 3% higher.

Breaking the News / FH