Netflix posts major earnings beat as revenue grows 13% in first quarter

Netflix posted a major earnings beat Thursday, as revenue grew 13% during the first quarter of 2025.

The streamer attributed its better-than-expected revenue to higher-than-forecast subscription and advertising dollars.

In late January, the company increased its pricing across the board, raising its standard plan to $17.99 a month, its ad-supported plan to $7.99, and its premium plan to $24.99.

The report marks the first time the streaming giant did not disclose quarterly subscriber data, as it shifts its strategy to focus on revenue and other financial metrics as performance indicators.

Netflix’s earnings also come as traditional media stocks have been slammed by a tumultuous market prompted by President Donald Trump’s trade policy.

Netflix, however, said it continues to forecast full-year revenue of between $43.5 billion and $44.5 billion.

“There’s been no material change to our overall business outlook,” the company said in a statement Thursday.

As investors worry about the potential impact of tariffs on consumer spending and confidence, Netflix’s co-CEO Greg Peters said on the company’s earnings call, “Based on what we are seeing by actually operating the business right now, there’s nothing really significant to note.”

“We also take some comfort that entertainment historically has been pretty resilient in tougher economic times. Netflix, specifically, also, has been generally quite resilient. We haven’t seen any major impacts during those tougher times, albeit over a much shorter history,” Peters said.

Netflix shares gained about 2% in extended trading Thursday.

Here’s how the company performed for the quarter ended March 31, compared with estimates compiled by LSEG:

• Earnings per share: $6.61 vs. $5.71 expected
• Revenue: $10.54 billion vs. $10.52 billion expected

Net income for the period was $2.89 billion, or $6.61 per share, up from $2.33 billion, or $5.28 per share, during the same quarter a year earlier.

Revenue in the first quarter jumped nearly 13% year over year, reaching $10.54 billion.

Netflix has been leaning on advertising as it seeks to soften slowing subscriber growth. “A key focus in 2025 is enhancing our capabilities for advertisers,” it said.

The company launched its in-house ad tech platform in early April in the U.S., with plans to extend into other markets in the coming months.

“We believe our ad tech platform is foundational to our long term ads strategy,” the company said. “Over time, it will enable us to offer better measurement, enhanced targeting, innovative ad formats and expanded programmatic capabilities.”