Netflix reported its first-quarter 2023 earnings Tuesday.
The streamer added 1.75 million net new subscribers in Q1, compared with gaining 7.66 million for the final quarter of 2022, the period during which its low-cost, ad-supported tier launched.
Netflix ended its pattern of providing subscriber guidance for the next quarter with its Q4 earnings in January, citing a shift in focus away from subs growth and toward revenue. As such, no self-set goals were revealed by the streamer for Wall Street to compare these Q1 results to.
The streamer will release a pre-recorded interview with Netflix executives discussing the quarter in greater detail at 6 p.m. ET.
More to come…
