Netflix Earnings, Revenue Beat in Q1 By Investing.com – Investing.com

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Investing.com – Netflix (NASDAQ:) shares fell after hours Tuesday after its profit guidance came up short of what Wall Street was expecting.

The streaming media company topped on the top and bottom lines for its last quarter and also topped its guidance for net subscription additions.

But it said it sees a second-quarter profit of 55 cents per share, well below the $1 per share analysts were predicting, according S&P Capital IQ. Netflix sees revenue in the quarter of $4.93 billion, shy of forecasts of $4.96 billion.

The stock lost 1.7% in after-hours trading. It was up 3% during the trading day going into its earnings report.

Netflix reported first-quarter earnings per share of $0.76 on revenue of $4.52 billion. Analysts polled by Investing.com forecast EPS of $0.57 on revenue of $4.5 billion.

The company said it added 9.6 million net paid subscribers in the quarter, topping its guidance of 8.9 million. Of those, 1.74 million new subscribers were in the U.S., which also beat company guidance.

Netflix predicts 5 million net additional subs in its second quarter, a decline from the year-ago period due to its recent U.S. price increase.

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