Netflix reported on Wednesday that it earned a net income of $1.3 billion on revenues of $8.1 billion in the quarter ending March 31.
This constitutes a 4% year-over-year growth, exceeding previous Wall Street forecasts.
The company said it is delaying its password-sharing crackdown in most markets, but that will be implemented by mid-year, and should noticeably improve the firm’s financials in the second half of 2023.
The leading streaming service also reports “unprecedented subscriber numbers,” reaching 232.5 million in the first quarter of the year.
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