MOSCOW (Pakistan Point News / Sputnik - 19th April, 2023) Net income of US streaming service Netflix was down 18.2% year-on-year to $1.305 billion in the first quarter of 2023, data released by the company shows.
Diluted earnings per share dropped from $3.53 in the first three months of 2022 to $2.88 this year, while the company's revenue grew by 3.7% in annual terms reaching $8.162 billion, the data reveals.
Netflix' global streaming paid memberships grew by 4.9% year-on-year, amounting to 232.50 million, with an additional 1.75 million subscribers joining Netflix over the first quarter of 2023, according to the data.
In the second quarter of 2023, the company expects to get $8.242 billion in revenues, a net income of $1.283 billion and diluted earnings per share worth of $2.84, according to the company's report.
