Netflix Chairman Reed Hastings is leaving the streaming service he co-founded 29 years ago as the company regains its footing after it lost its $72 billion deal for Warner Bros Discovery .

Netflix shares fell after its first-quarter earnings report. The stock had been on a tear after backing away from its plan to buy Warner Bros.

Netflix Inc.’s stock struggled through the winter as the company engaged in a bidding war for Warner Bros. Discovery Inc. But since ending the chase two months ago, the company has gotten back to basics,

Netflix shares plummeted more than eight percent Thursday as the TV streaming titan reported quarterly revenue of $12.25 billion, a result that slightly topped expectations.

Profit rose in the first quarter for US streaming service Netflix on the back of double-digit revenue growth, the company reported on Thursday. Net income for the quarter was $5.28 billion or $1.23 per share,

Analysts are looking for how much content Netflix’s subscribers are actually watching — but a recent price hike and the streamer’s growing ad business are expected to help profitability.

Netflix is getting back to basics after bowing out of the bidding war for Warner Bros. and is looking to expand its ad tier.

Netflix reported better-than-anticipated first quarter 2026 revenue thanks to surprisingly strong member growth, led by Japan. We did not actually get an updated subscriber total on Thursday. What we did get was a set of financials that looked pretty good.