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Netflix Q1 Results Top Expectations as Streamer Stops Reporting Subscriber Counts
Netflix beat Wall Street financial estimates for Q1 2025, the first quarter it is no longer reporting subscriber counts.
But according to the company, the quarter-to-quarter sub count is not as relevant as financial and user engagement metrics, given its rollout of plans at different price points and its paid-sharing option (which lets subscribers add “extra members” to their accounts for an additional fee). Analysts have suggested that Netflix made the change because its subscriber growth rate is slowing, while also noting other companies that have done the same kind of thing (in 2018, Apple stopped disclosing unit sales of iPhones and other product lines). Meanwhile, following price hikes in the U.S. and other markets in the first quarter of 2025, Netflix can “obscure subscriber churn” while “showing meaningful revenue growth,” Wedbush Securities analyst Alicia Reese pointed out in an April 11 research note.
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