In its first quarterly earnings report without disclosing subscriber numbers, Netflix pointed Wall Street toward revenue and operating income as the streaming giant seeks to control the story of its growth potential.
Netflix reported $10.5 billion in revenue, operating income of $3.3 billion, and a margin of 31.7 percent. All up substantially from a year ago.
Netflix also said that Reed Hastings, its founder and executive chairman, would give up that role to become chairman and non-executive director of the company. Hastings moved from co-CEO to executive chairman two years ago.
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The company beat Wall Street expectations handily, continuing to demonstrate its strength in the marketplace.
The company also raised prices in many markets (including the U.S.) earlier this year, a move that also included the first hike to its ad-supported plan. The hikes likely bolstered the company’s margins,
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