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Netflix beats estimates with strong Q1 earnings

Photo by Ted Soqui/Corbis via Getty Images

Netflix stock was up over 7% in after-hours trading Monday, after the company announced that it beat Wall Street expectations for user growth and revenue, yet again. The company added 7.41 million new subscribers, compared to 6.4 million expected.

Why it matters: A strong Q4 had analysts and investors worried that the streaming giant wouldn't be able to recreate its blockbuster success, especially given that current competitors, like Amazon and Hulu, continue to grow while potential competitors, like Disney, are preparing to build rival services.

By the numbers:

  • Revenue: $3.7 billion vs. $3.69 billion expected by Thomson Reuters.
  • Earnings per share: 67 cents vs. 64 cents expected by Thomson Reuters.
  • Total subscription additions: 7.41 million vs. 6.4 million expected by Netflix.
  • Domestic subscriber additions: 1.95 million vs. 1.5 million expected by analysts.
  • International subscriber additions: 5.46 million vs. 5 million expected by analysts.

Go deeper

Mike Allen, author of AM
22 mins ago - Economy & Business

America on borrowed time

Illustration: Aïda Amer/Axios

Economic recovery will not be linear as the world continues to grapple with the uncertainty of the pandemic.

Why it matters: Despite being propped up by an extraordinary amount of fiscal stimulus and support from central banks, the state of the global economy remains fragile.

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Jonathan Swan
11 hours ago - Politics & Policy

Scoop: Gina Haspel threatened to resign over plan to install Kash Patel as CIA deputy

CIA Director Gina Haspel. Photo: Win McNamee/Getty Images

CIA Director Gina Haspel threatened to resign in early December after President Trump cooked up a hasty plan to install loyalist Kash Patel, a former aide to Rep. Devin Nunes (R-Calif.), as her deputy, according to three senior administration officials with direct knowledge of the matter.

Why it matters: The revelation stunned national security officials and almost blew up the leadership of the world's most powerful spy agency. Only a series of coincidences — and last minute interventions from Vice President Mike Pence and White House counsel Pat Cipollone — stopped it.

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Axios
Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines — "Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode again — Fed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
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