Netflix reported a strong first quarter, exceeding analyst expectations with a 13% revenue increase and a 27% rise in operating income. The company's Q1 earnings per share (EPS) was $6.61, surpassing the expected $5.68, while revenue reached $10.54 billion, slightly above the anticipated $10.5 billion.
A key element of Netflix's growth strategy is its advertising business. On April 1, Netflix launched its in-house ad-tech platform, the Netflix Ads Suite, in the U.S. and Canada. The company plans to expand this platform to 10 more major markets, aiming to provide advertisers with greater flexibility and improved targeting capabilities.
Netflix has set an ambitious target of reaching $9 billion in advertising revenue by 2030. This is part of a broader plan to double its overall revenue and achieve a market capitalization of $1 trillion by the same year. Executives express confidence in Netflix's growth potential, citing the resilience of the entertainment sector and the company's focus on engagement and global content production.