Netflix Reports Strong Earnings and Co-Founder Reed Hastings' Departure
Netflix reported strong first-quarter earnings with $1.23 EPS and $12.25 billion in revenue, beating expectations. However, the stock fell nearly 9% in after-hours trading, driven by concerns beyond the earnings report. Co-Founder Reed Hastings is stepping down from the board, which may have contributed to investor uncertainty.
Topics: Earnings Report Executive Departure Mergers and Acquisitions Stock Price Movement