Netflix fell about 1% after reporting its first quarter 2019 earnings after the bell on Tuesday. The company reported quarterly revenue that beat estimates but included light guidance for the following quarter.
Here are the numbers Netflix reported compared to Wall Street’s expectations:
Earnings per share: 76 cents, vs. 57 cents expected, per Refinitiv consensus estimate. Revenue: $4.52 billion, vs. $4.50 billion expected, per Refinitiv consensus estimate. Domestic paid subscriber additions: 1.74 million, vs. 1.61 million, forecast by FactSet International paid subscriber additions: 7.86 million, vs. 7.31 million, forecast by FactSet
Netflix provided light guidance for the second quarter of 2019. The company estimated Q2 earnings per share of $0.55 compared to the $0.99 analysts were expecting, per Refinitiv.
Netflix said its Chief Marketing Officer Kelly Bennett will retire this year. Chief Content Officer Ted Sarandos will run both content and marketing in the interim of the search for a new CMO.
“We don’t anticipate that these new entrants will materially affect our growth because the transition from linear to on demand entertainment is so massive and because of the