Netflix blows past earnings estimates as subscribers jump 16%

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LOS ANGELES — Netflix is due to report first-quarter earnings after the closing bell Thursday.

The company’s performance has been an anomaly in the streaming realm. While competitors struggle to turn profits, Netflix saw a 12% bump in revenue last year as its paid memberships grew again.

Here’s what Wall Street expects for the company’s most recent quarter: 

  • Earnings per share: $4.52, according to LSEG
  • Revenue: $9.28 billion, according to LSEG
  • Total memberships: 264.21 million, according to Street Account

The streaming company is navigating its transformation from targeting subscriber growth to focusing on profit, as it uses price hikes, a crackdown on password sharing and an ad-supported tier to boost revenue. Investors are looking for signs that these efforts are still boosting Netflix and seeking more details about the company’s foray into video games.

Netflix could also provide more insight into its partnership with TKO Group Holdings to bring WWE to the platform. The company has teased that it would like to expand its live sports offerings.

As of Thursday morning, the company’s stock was up 27% year-to-date and around 85% over the last 12 months.

This is a breaking news story. Please check back for updates.

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