Netflix has reported a first-quarter revenue of $10.5 billion for 2025, marking a 13% increase compared to the same period last year. The streaming giant also exceeded Wall Street expectations with earnings per share rising by 25% to $6.61.
The company attributed its strong performance to a combination of recent subscription price hikes and an impressive global line-up of content, including popular series such as the British drama Adolescence.
With a global viewership exceeding 700 million, Netflix confirmed that it had not experienced any negative impact from President Donald Trump’s tariffs or the accompanying market turbulence.
“We’re paying close attention to consumer sentiment and where the broader economy is moving. Based on what we’re seeing, there is nothing significant to note,” co-Chief Executive Officer Greg Peters said during a call with analysts.
Operating income for the quarter reached $3.3 billion, representing a 27% rise and comfortably beating forecasts of $3 billion. The company’s operating margin also climbed to 31.7%, surpassing its own guidance by over three percentage points. This, the company said, reflects its disciplined financial approach and the growing profitability of its international content production efforts.
In a notable strategic shift, Netflix has stopped disclosing subscriber growth figures — once a key performance metric — and is now redirecting investor attention towards traditional financial indicators such as revenue, earnings, and profit margins.
This pivot follows a record-breaking end to 2024, when Netflix added 18.9 million subscribers in its strongest quarter to date. However, with user growth predicted to decelerate in 2025, especially after price increases in major markets like the United States, the company is now focused on maximising returns from its current subscriber base.
To generate revenue beyond new user sign-ups, Netflix is actively expanding its ad-supported subscription tier and trialling advanced advertising technologies in select regions. These efforts are aimed at boosting average revenue per user, particularly in competitive markets.
As part of this revenue strategy, Netflix has implemented further price adjustments, including in France, while other markets — such as Nigeria — have already experienced steep increases. In July 2024, the platform raised its Premium Plan price in Nigeria by 40%, from ₦5,000 to ₦7,000 per month. This followed a prior hike just three months earlier in April.
The Standard Plan, widely used in Nigeria for its HD streaming and multi-device access, was also increased from ₦4,000 to ₦5,500 — a 37.5% rise. These pricing strategies underline the company’s broader efforts to strengthen profitability and reduce reliance on rapid subscriber growth.