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Netflix reports 15% revenue increase, announces it will stop reporting member numbers [USA TODAY]
Last netflix, inc. earnings: 4/21 04:00 pm
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US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
Netflix reported double-digit growth in its first quarterly earnings report of the year. The company said it had $9.37 billion in revenue in the first quarter of 2024, a 14.8% increase over the same quarter in 2023. The company reported annual growth of 3.7% in the first quarter of 2023. "We have built a hard-to-replicate combination of a strong slate, superior recommendations,broad reach and intense fandom, which drives healthy engagement on Netflix," the company said in a letter to investors on Thursday. Netflix reported its operating margin grew to 28.1%, an increase of 7% year over year, and that it held 8.1% of streaming market share. The company also reported 65% growth in ad tier membership as compared to the last quarter after rising 70% sequentially in the final two quarters of 2023. Netflix to stop reporting member numbers In the letter to shareholders, Netflix said that it would stop reporting quarterly membership numbers and average revenue per membership star
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