Netflix Inc
What Happened: After the market close on Thursday, Netflix reported first-quarter revenue of $10.54 billion, beating analyst estimates of $10.52 billion, according to Benzinga Pro. The streaming giant reported adjusted earnings of $6.61 per share, beating estimates of $5.74 per share.
Markets were closed on Friday, so Monday marks the first trading session following earnings.
Total revenue was up 13% year-over-year, driven by membership growth and higher pricing. The company said results came in above company expectations due to higher-than-forecasted subscription and ad revenue.
Netflix guided for 15% revenue growth in the second quarter, citing continued strong trends in memberships and advertising revenue. The company said it expects second-quarter earnings of $7.03 per share, versus estimates of $6.27 per share.
"We remain optimistic about our 2025 slate with a lineup that includes returning favorites, series finales, new discoveries and unexpected surprises designed to thrill our members," the company said.
Analyst Changes:
- Morgan Stanley analyst Benjamin Swinburne maintained Netflix with an Overweight and raised the price target from $1,150 to $1,200.
- Canaccord Genuity analyst Maria Ripps maintained Netflix with a Buy and raised the price target from $1,150 to $1,200.
- Piper Sandler analyst Matt Farrell maintained Netflix with an Overweight and raised the price target from $1,100 to $1,150.
- Rosenblatt analyst Barton Crockett maintained Netflix with a Buy and raised the price target from $1,494 to $1,514.
- Needham analyst Laura Martin reiterated Netflix with a Buy and maintained a price target of $1,126.
- JPMorgan analyst Doug Anmuth maintained Netflix with an Overweight and raised the price target from $1,025 to $1,150.