00:00It's Benzinga and here's what's on the block.
00:02Netflix reported first quarter revenue of $9.37 billion up from $8.16 billion a year ago and
00:08beating estimates of $9.28 billion. Earnings per share were $5.28 versus the $4.52 expected.
00:16Total paid memberships rose 16% year-over-year to reach 269.6 million,
00:21above estimates of 264.2 million. Netflix will no longer report quarterly membership numbers
00:28or average revenue per user starting next year. The company stated that it now focuses on revenue
00:33and operating margin as its primary financial metrics and considers engagement as the primary
00:38indicator of customer satisfaction. Netflix is exploring live sports like a WWE partnership
00:44and video games expansion. Shares fell 4% in after-hours trading.
00:48For all things money, visit Benzinga.com.
