Netflix reports Q1 global streaming paid net additions of 9.33M

Netflix said in its quarterly letter to investors: “Revenue was above our guidance as paid net additions (9.3M vs. 1.8M in Q1’23) were higher than we forecast. Operating income in Q1’24 totaled $2.6B (vs. $1.7B in Q1’23) – a year over year increase of 54%. This was also above our forecast primarily due to our higher than anticipated revenue and the timing of our content spend. Operating margin of 28% grew seven percentage points year over year (vs. 21% last Q1). EPS for the first quarter was $5.28 vs. $2.88 last year and our $4.49 forecast.”