- Earnings of $5.28 vs $4.52 estimate
- Streaming paid additions of 9.33m vs 5.11m est
- Q2 outlook $4.68 vs $4.54 est
- Operating income $2.633B vs $2.428B est
Shares were initially up 3% after hours then fell to -7% and are now -4%.
"We’re raising our FY24 operating margin forecast to 25%, based on F/X rates as of January ‘24, up from 24," the company said.
They also said they're "scaling ads to become a more meaningful contributor to our business in ‘25 and beyond." So we'll all continue to pay the $15/month and it won't be long before we get ads with that too.
The company also seems to be leaning into pulp lately, including hiring a new chief in the movie division. They said they want to improve the variety and quality of the entertainment "with more, great TV shows and movies, a stronger slate of games and must-watch live programming."
For Q2’24, they forecast revenue growth of 16%.
I wonder if that isn't a technical reaction. The numbers probably weren't good enough to break above this month's $639 high and profit taking hit.
