Netflix Inc. Announces Retreat In Q1 Income, but beats estimates

(RTTNews) - Netflix Inc. (NFLX) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $1.60 billion, or $3.53 per share. This compares with $1.71 billion, or $3.75 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $7.87 billion from $7.16 billion last year.

Netflix Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.60 Bln. vs. $1.71 Bln. last year. -EPS (Q1): $3.53 vs. $3.75 last year. -Analyst Estimates: $2.90 -Revenue (Q1): $7.87 Bln vs. $7.16 Bln last year.