Netflix revenues in Q1 2021 jumped 24% year over year, in line with forecast, according to the company’s press release. The company finished the quarter with 208 million paid memberships, a gain of 14% year over year, but short of a guidance of 210 million memberships.
Average revenue per membership was up 6% year over year, or 5%, excluding the impact of foreign currency translation.
Operating income came at $2 billion, more than doubled from $958 million in Q1 2020
Operating margin jumped to 27% in Q1, a fresh record high.
Earnings per share was $3.75, a jump from $1.57 a year ago
Content amortization rose 9.5% year over year in the quarter, less than a jump of 17% in FY20
Netflix anticipates a strong second quarter on return of biggest hits and film lineup
Revenue is expected to climb to $7.302 billion in Q2 2021, up from $7.163 in Q1 2021
Netflix expects more volatility on its absolute paid net additions performance as membership base continues to grow.
Netflix stock is currently declining. NFLX: NASDAQ is down 8.19% on premarket.
