Netflix revenue rises to $10.5 billion following price hike

Netflix reported record revenue of $10.5 billion in Q1, up 13% year-over-year, following price increases across most plans. Its net income also grew to $2.9 billion. The company expects further growth due to these recent price changes and increased membership and advertising revenue. Notably, Netflix no longer discloses subscriber gains or losses but reported having 300 million global subscribers in January. Co-CEO Greg Peters anticipates doubling advertising revenue by 2025 and plans a homepage redesign for the TV app later this year.