Los Angeles (Reuters) – Netflix reported on Thursday of quarterly results superior to the expectations of Wall Street and press release from solid forecasts, displaying its confidence despite the economic uncertainty linked to the commercial policy of the administration of the American president Donald Trump.
The title of the ‘streaming’ giant increased by 4.4% in the post-clothing stock exchange.
Netflix has also announced that one of its co-founders, Reed Hastings, left his position as executive president to become the non-executive president of the group’s board of directors. This is “within the framework of the natural evolution of our ruling structure and the planning of the succession,” said the group.
Over the January-March period, Netflix recorded a turnover of $ 10.54 billion, while analysts anticipated an average of $ 10.52 billion according to LSEG data.
The profit diluted by share established at 6.61 dollars, also beating the consensus which appeared at 5.71 dollars.
Netflix said he anticipated a turnover up to $ 11.04 billion in the current quarter, forecasts higher than Wall Street expectations (10.90 billion dollars), citing “the growth of subscriptions and higher prices”.
Analysts have raised the hypothesis that Donald Trump’s trade policy triggers a recession that would push consumers to spend less regarding streaming platforms.
But it is unlikely that this will happen for Netflix, given its solid position on the market and the popularity of its content, wrote in a note Jessica Reif Ehrlich, analyst of Bank of America, adding however that some subscribers could switch to a less expensive formula.
Advertising formulas, launched at the end of 2022, now represent 55% of new subscriptions in countries where they are available, said Netflix, which has more than 300 million customers around the world.
The group did not communicate on Thursday the number of new subscribers recorded in the first quarter, when it intends to highlight other data such as its turnover and its profit.
(Dawn Chielewski and Lisa Richwine; Jean Terzian)
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