Scott Peters
19 Apr, 2022
New York City
Netflix said first-quarter revenues increased 9.8% to $7.8 billion, net income declined 20% to $1.59 billion, and earnings per share fell to $3.53 from $3.75 a year ago. Operating margin declined to 25.1% from 27.4% and paid streaming membership increased 6.7% to 221.64 million. In the quarter, the streaming service provider lost 0.2 million subscribers. For the second quarter, the company guided slower growth of 9.7% in revenues, nearly flat income from a year ago $1.35 billion or $3 a share and membership decline of 5% or 2 million to 219.6 million.
