Netflix Reports Strong Earnings But Reed Hastings Steps Down from Board
Netflix reported strong first-quarter financial results, with revenue growing 16% year-over-year to $12.25 billion and earnings per share beating expectations. However, the stock price fell as the market had already priced in the positive results. Reed Hastings announced he will not seek re-election to the board when his term expires in June.
Tickers: $NFLX
Topics: executive transition financial performance Netflix earnings Reed Hastings resignation stock market reaction