Shares in Netflix surged more than 10% in after-hours trading on the results.
Netflix exceeded both goals, with EPS of $4.27 and revenue of $10.247 billion.
That means there is room for growth, even though the service has started to plateau in some territories.
Cho Seung-hyun in Season 2 of Netflix’s ‘Squid Game’No Ju-han/Netflix/Courtesy Everett Collection
Our business remains intensely competitive with many formidable competitors across traditional entertainment and big tech, the letter noted.
Along with launching an ad-supported tier, the company has stopped allowing customers to share passwords for free.
That puts the total audience for Netflix globally at 700 million, the company maintains.
After a rocky 2024 for legacy companies, there will be a bright spotlight on Disney, Warner Bros.
