Netflix Boosts Revenue and Profit Amidst Investor Doubts, Cuts Popularity Reporting to Annually

Netflix announced a substantial rise in both revenue and profit for the last quarter, aiming to quell investor anxieties that have impacted its stock value in recent months. However, the streaming giant also revealed a shift in its reporting strategy, stating it will now only provide data on the popularity of its films and series once a year, a reduction from the previous twice-yearly updates.

This change in reporting frequency comes amidst ongoing investor concerns. Market research data had previously suggested a decline in viewership for popular Netflix series after their second seasons. The company's failed bid to acquire Warner Brothers, losing out to rival Paramount, was also seen by investors as a sign of market uncertainty. Despite the positive financial results, Netflix's revenue forecast for the current quarter fell short of average analyst expectations, contributing to a temporary drop of over seven percent in its stock price during after-hours U.S. trading.

Financially, Netflix's revenue climbed 13 percent year-over-year to $12.56 billion (10.98 billion euros) in the past quarter. Net profit grew by 8.8 percent to $3.4 billion. The company also received a $2.8 billion penalty payment from Warner in February related to an agreed-upon acquisition, which slightly increased Netflix's tax payments in the last quarter. Netflix no longer provides regular updates on its customer numbers.