Summary

Netflix Beats

Netflix (NFLX) reported 1st Quarter March 2025 earnings of $6.61 per share on revenue of $10.5 billion. The consensus earnings estimate was $5.69 per share on revenue of $10.5 billion. The Earnings Whisper number was $5.86 per share. Revenue grew 12.5% on a year-over-year basis.

The company said it expects second quarter earnings of approximately $7.03 per share on revenue of approximately $11.035 billion. The current consensus earnings estimate is $6.22 per share on revenue of $10.99 billion for the quarter ending June 30, 2025. The company also said it continues to expect 2025 revenue of $43.50 billion to $44.50 billion. The current consensus revenue estimate is $44.47 billion for the year ending December 31, 2025.

Netflix is the world's leading streaming entertainment service with 222 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages.

Earnings Release

Netflix First Quarter 2025 Earnings

We are off to a good start in 2025. In Q1, revenue and operating income grew 13% and 27% year over year, respectively. Both were ahead of our guidance due to slightly higher subscription and ad revenue and the timing of expenses.
We’re executing on our 2025 priorities: improving our series and film offering and growing our ads business; further developing newer initiatives like live programming and games; and sustaining healthy revenue and profit growth.
- We delivered a solid slate in Q1 with one series (Adolescence) and three films (Back in Action, Ad Vitam and Counterattack) all breaking into our all-time most popular lists.
- On April 1, we successfully launched our ad tech platform in the US and are on track to roll it out in our remaining ads countries in the coming months.
- We’re building out our live offering with our Q1 launch of WWE RAW, which has been on our global Top 10 list every week. We also announced Taylor vs. Serrano 3, a historic women’s boxing rematch that will stream on July 11, and opted into a second NFL game for Christmas Day 2025.
- Our revenue and profit growth outlook remains solid, with no change to our 2025 guidance forecast for revenue of $43.5-$44.5B and operating margin of 29%.
- We are working hard to improve and expand our entertainment offering with the goal to build the most valued entertainment company for members, creators and shareholders.
For the full earnings release, please go here.