Netflix exceeds expectations with 10M new subscribers

Netflix has garnered 9.3 million new customers during the first quarter, surpassing market expectations which predicted 4.84 million new subscribers, as reported by Bloomberg and covered by Marketwire. Now, 269.6 million people have access to Netflix content globally, reaching an audience of over half a billion individuals when considering household averages. The company reported a profit of 2.3 billion dollars for the quarter. Despite a 3% drop in stock price post-market on Wednesday due to anticipated slower sales in the next quarter, shares have generally increased since the beginning of the year. Netflix has been cracking down on account sharing and introduced an ad-supported subscription option at a lower cost. Upcoming releases include the series ‘3 Body Problem’ and the second season of ‘Squid Game’, the platform’s most-streamed show ever.