Netflix Inc (NASDAQ:NFLX) shares are trading higher Monday after the company reported strong first-quarter results late last week. Multiple analysts raised price targets following the print.
What Happened: After the market close on Thursday, Netflix reported first-quarter revenue of $10.54 billion, beating analyst estimates of $10.52 billion, according to Benzinga Pro. The streaming giant reported adjusted earnings of $6.61 per share, beating estimates of $5.74 per share.
Markets were closed on Friday, so Monday marks the first trading session following earnings.
Total revenue was up 13% year-over-year, driven by membership growth and higher pricing. The company said results came in above company expectations due to higher-than-forecasted subscription and ad revenue.
Netflix guided for 15% revenue growth in the second quarter, citing continued strong trends in memberships and advertising revenue. The company said it expects second-quarter earnings of $7.03 per share, versus estimates of $6.27 per share.
“We remain optimistic about our 2025 slate with a lineup that includes returning favorites, series finales, new discoveries and unexpected surprises designed to thrill our members,” the company said.
Check This Out: Netflix Crushes Q1, Says It’s ‘Working Hard To Improve And Expand’ Its Offering
Analyst Changes:
NFLX Price Action: Netflix shares were up 1.64% at $989 at the time of publication Monday, according to Benzinga Pro.
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