LOS GATOS, Calif. (AP) — LOS GATOS, Calif. (AP) — Netflix Inc. (NFLX) on Thursday reported first-quarter profit of $5.28 billion.
The Los Gatos, California-based company said it had net income of $1.23 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The internet video service posted revenue of $12.25 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $12.17 billion.
For the current quarter ending in June, Netflix said it expects revenue in the range of $12.57 billion.
The company expects full-year revenue in the range of $50.7 billion to $51.7 billion.
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