** Shares of streaming giant Netflix NFLX.O rise 2% to $992.70 after the bell
** NFLX beat Wall Street expectations for first-quarter results and offers a bullish second-quarter revenue outlook
** Co-founder Reed Hastings has stepped down as executive chairman, to become board's non-executive chair
** NFLX posts Q1 revenue of $10.54 billion, beating estimates of $10.52 billion, according to data compiled by LSEG
** Reports per-share earnings of $6.61, also beating an estimate of $5.71
** Sees Q2 revenue of $11.04 billion, above an estimate of $10.90 billion
** Up to Thursday's close, NFLX up 9.2% YTD
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com;))
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