Netflix just reported its earnings for Q1, and announced that it has surpassed 81 million members. That’s up from 75 million on January 1, just after the prior quarter closed.
Revenue for the quarter was $1.96 billion. Earnings per share (GAAP) was $0.06, which is better than expected, though the company disappointed on its Q2 guidance, quickly sending stock down.
“As a reminder, the guidance we provide is our actual internal forecast at the time we report. For the second quarter, we expect to add 2.5 million members with 0.5 million in the US and 2.0 million internationally (versus prior year 2.4 million),” said the company’s letter to shareholders. “In the US, our Q2 net adds forecast of 0.5 million is inline with prior years (0.5, 0.6, 0.6, and 0.9 million from 20122015), taking into account a modest impact from the beginning of ungrandfathering.”
That’s of course in reference to the highly publicized price change.
Here’s a quick look at the company’s numbers for Q1:
Checking in on Netflix’s DVD business, it ended the quarter with 4.7 million members and $72 million in contribution profit.