Netflix has announced its Q1 2020 financial results and the company saw revenue increase 27.6 percent over the previous year to $5.77 billion for the quarter.
The company also added another 15.77 million new subscribers in the quarter, the company now has 182 million paid subscribers.
Despite paid net additions that were higher than forecast, revenue was in-line with our guidance due to the appreciation in the US dollar vs. other currencies. Excluding a -$115m impact from F/X, streaming ARPU grew 8% year over year. Operating margin of 16.6% (vs. 10.2% in the prior year quarter) was lower than our 18.0% forecast as we incurred $218m in incremental content costs due to paused productions and hardship fund commitments (a 3.8 percentage point impact to operating margin).
You can find out more information about Netflix’s first quarter of 2020 financial results over at the company’s website at the link below.