Netflix stock rises to nearly $1,000 after record earnings

Netflix (NFLX) surprised Wall Street with a record-breaking first quarter, sending its stock surging to nearly $1,00 in after-hours trading. The streaming giant reported earnings per share of $6.6 and revenue of $1.5 billion, both beating analyst expectations and marking its strongest quarter ever.

Shares jumped more than 3% after the announcement, capping a 9% gain for the year so far—an impressive feat as much of the tech sector remains in decline. Netflix’s robust results come as the company pivots away from reporting subscriber numbers, focusing instead on financial performance and engagement metrics. The move signals growing confidence in its business model, especially as its lower-priced, ad-supported tier now accounts for 55% of new signups in regions where it’s available.

Looking ahead, Netflix forecasts second-quarter revenue of $1.0 billion and earnings per share of $7.0, both above Wall Street’s projections. Executives reaffirmed their ambitious goal to double revenue by and reach a $1 trillion market cap, a target that has caught the attention of analysts and investors alike.

Amid economic uncertainty and tariff concerns, Netflix’s leadership emphasized its resilience and value to consumers, with analysts calling it one of the most robust companies in the sector. With its stock poised for a potential breakout, all eyes are on whether Netflix can maintain this momentum—or if the next quarter will bring another surprise twist.