LOS GATOS, Calif. (AP) — LOS GATOS, Calif. (AP) — Netflix Inc. (NFLX) on Thursday reported first-quarter earnings of $2.89 billion.
On a per-share basis, the Los Gatos, California-based company said it had net income of $6.61.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $5.69 per share.
The internet video service posted revenue of $10.54 billion in the period, which missed Street forecasts. Nine analysts surveyed by Zacks expected $10.55 billion.
For the current quarter ending in June, Netflix said it expects revenue in the range of $11.04 billion.
The company expects full-year revenue in the range of $43.5 billion to $44.5 billion.
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