2022-04-20 04:07:55
Five Takeaways From Netflix’s First-Quarter Earnings: TOPLive
(Bloomberg) -- Here are the key takeaways from Netflix Inc.’s first-quarter earnings released Tuesday. Click here for the TOPLive blog.
• Shares cratered after the streamer lost 200,000 customers in the quarter, its first decline in a decade. It expects to lose another 2 million in the second quarter. That trend will turn around later in the year, Chief Financial Officer Spencer Neumann said.
• The company is open to adding a cheaper, ad- supported subscription. That’s a major about-face for Netflix, which has long rebuffed calls to include ads.
• Over the next year, Netflix will experiment with ways to crack down on password sharing. That may include charging customers more if they want to offer their account to people outside their household.
• Netflix expects to protect its margins even in a more downbeat environment for revenue growth. It will partly do so by slowing growth in content spending.
• The dominant streamer seems unusually shaken by its competitors. Co-Chief Executive Officer Ted Sarandos believes to stay on top, Netflix must produce a huge, viral hit every month. And games may add to subscriber figures, though it’s not ready to jump into live sports yet.
1.0K viewsJames Yeo, 01:07
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