Netflix's subscriber count increases, profits fall

Global internet television network Netflix's subscriber base increased by approximately 1.8 million in the first quarter of 2023, while its earnings per share decreased from $3.53 to $2.88 in the same period. Netflix announced its balance sheet for the first quarter of this year. Accordingly, the company's revenue in the first quarter of the year increased by 3.7 percent compared to the same period of the previous year, reaching $8.2 billion. The company's revenue was recorded as $7.9 billion in the same period of the previous year. The company's net profit also decreased by 18.3 percent compared to the same period of the previous year, falling to $1.3 billion in the first quarter. Netflix's net profit in the first quarter of last year was $1.6 billion. The company's earnings per share decreased from $3.53 to $2.88 in the same period. Netflix's subscriber base increased by approximately 1.8 million in the first quarter of the year. The company's subscriber base worldwide rose to 232.5 million. On the other hand, Netflix, recalling that it launched paid password sharing in four countries in the first quarter of the year, announced that it will expand the application to other countries, including the USA, in the second quarter.