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Netflix beats expectations on profit and subscribers

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Netflix topped expectations Thursday as it reported 9.3 million new subscribers and profits of $2.3 billion in the first three months of the year. Netflix took in $1 billion more in profit in the quarter than it did in the same period a year earlier, according to earnings figures.

Netflix bet heavily on its content line-up, including"3 Body Problem," based on a Chinese trilogy of novels. Photo: MARIO TAMA / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/Filetopped expectations Thursday as it reported 9.3 million new subscribers and profits of $2.3 billion in the first three months of the year.per household on average, we have an audience of over half a billion people," Netflix said in a letter to investors.

In a separate bid for revenue, Netflix launched an ad-subsidized offering around the same time as the crackdown on sharing passwords outside of homes. Other shows due later this year include the eagerly awaited second season of"Squid Game" -- the dystopian Korean horror tale about a fictional, deadly game show which remains by far the most-watched NetflixIt will follow returning hero Gi-hun as he abandons his plans to go to the United States and"starts a chase with a motive."

 

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