Netflix: Q1 Earnings Snapshot

LOS GATOS, Calif. (AP) — LOS GATOS, Calif. (AP) — Netflix Inc. (NFLX) on Tuesday reported first-quarter net income of $1.31 billion.

The Los Gatos, California-based company said it had net income of $2.88 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.83 per share.

The internet video service posted revenue of $8.16 billion in the period, which did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $8.18 billion.

For the current quarter ending in June, Netflix said it expects revenue in the range of $8.24 billion. Analysts surveyed by Zacks had expected revenue of $7.95 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NFLX at https://www.zacks.com/ap/NFLX