Netflix reported first-quarter 2026 revenue of $12.3 billion.
This result surpassed Wall Street expectations of $12.17 billion.
Revenue grew 16% compared to the previous year.
Net income reached $5.28 billion for the quarter.
A $2.8 billion termination fee from a failed Warner Bros. Discovery acquisition boosted the profit.
The company’s second-quarter forecast fell below analyst estimates.
Netflix shares dropped more than 8% in after-hours trading following the outlook.
Investor concerns regarding the near-term growth trajectory overshadowed the quarterly performance.