Revenue came in at $12.3 billion for the first quarter of the year, which was better than analyst firm LSEG's forecast of $12.2 billion, CNBC reports.
Earnings per share were also a cheerful reading: $1.23 per share, compared to the forecast of 76 cents.
However, for the current quarter, the company is falling short of expectations. Netflix is expecting 78 cents per share, compared to Wall Street's forecast of 84 cents.
The report also states that Reed Hastings, the board chairman and a co-founder, will leave the board when his term expires in June.
Just over half an hour after the quarterly report was released, Netflix shares fell about 9 percent, CNBC reports.
