Netflix said it had 269.60 million paid subscribers worldwide in the first quarter of 2024 and gained 9.33 million new subscribers compared to the fourth quarter of 2023. explained.
Netflix generated $9.37 billion in revenue in the first quarter of 2024. This is up from $8.164 billion in the same period the previous year. Net income was $2.332 billion in the quarter. This amounted to 1.305 billion dollars compared to the same period of the previous year. Although today’s numbers for the first quarter of the year exceeded expectations, Netflix announced that it expects revenue from the current second quarter to be approximately $9.49 billion.
The company says it will focus on reporting revenue and other financial figures above its subscriber membership in the near future. Netflix also points out that it is generating more and more revenue from its advertising department.
The company plans to no longer report membership numbers on a quarterly basis as of the first quarter of 2025. He noted that it will provide “significant milestones to subscribers as we pass them.”
