Netflix (NFLX) reported first-quarter earnings that topped analysts’ expectations, sending shares larger in prolonged buying and selling Thursday.

The streaming big’s income grew over 12% year-over-year to $10.54 billion, above the analyst consensus from Seen Alpha. Web earnings of $2.89 billion, or $6.61 per share, rose from $2.33 billion, or $5.28 per share, a 12 months earlier, beating Wall Avenue’s projections. The interval marked the primary quarter Netflix didn’t report subscriber numbers.

Netflix shares rose about 3% in after-hours buying and selling. They have been up 9% for 2025 thus far by way of Thursday’s shut.

Netflix’s Positive factors Come as Subscription Costs Rise

The higher-than-expected outcomes got here partly as a consequence of larger subscription and advert revenues, the corporate mentioned, together with the timing of bills.

Netflix had raised prices for its plans in January, mountain climbing its ad-supported plan to $7.99 from $6.99 per 30 days, the usual ad-free plan to $17.99 from $15.49 a month, and its premium plan to $24.99 from $22.99 a month.

Netflix maintained its fiscal 2025 income projection of $43.5 billion to $44.5 billion. Analysts on common had anticipated $44.27 billion. The corporate’s second-quarter income forecast of $11.04 billion exceeded Wall Avenue’s estimate of $10.91 billion.

Co-CEO Greg Peters mentioned Netflix expects to double its promoting income this 12 months, as the corporate rolls out its advert tech suite. The suite is stay within the U.S. and Canada, with 10 different markets anticipated within the months to return.

Earlier this week, Netflix executives reportedly mentioned their objective is to double the corporate’s $39 billion in income final 12 months by 2030 and attain a market capitalization of $1 trillion. The streamer’s market cap at present stands at about $416 billion.

Executives Tout Netflix’s Resilience Amid Financial Uncertainty

“We additionally take some consolation in the truth that leisure traditionally has been fairly resilient in more durable financial occasions,» Peters mentioned throughout the firm’s earnings name Thursday.

«Netflix, particularly, additionally has been typically fairly resilient and we haven’t seen any main impacts throughout these more durable occasions, albeit after all over a a lot shorter historical past,” he added.

The feedback come after Morgan Stanley referred to as the corporate a “top pick” final week to face up to the present tariff landscape.

Netflix additionally introduced Thursday that Reed Hastings, the corporate’s former CEO, has transitioned from his function as govt chair to chair of the board and a non-executive director place.

UPDATE—April 17, 2025: This text has been up to date because it was first printed to incorporate further data and mirror newer share worth values.