Core Insights - Netflix exceeded Wall Street's expectations for the first quarter, reporting total revenue of $10.543 billion and earnings per share of $6.61, surpassing analyst forecasts of $5.66 EPS and $10.5 billion in revenue [1] Financial Performance - Revenue growth in the U.S. and Canada slowed to 9%, down from 15% in the previous quarter, attributed to a partial impact from a price change and the absence of advertising revenue from NFL games [3] - The company anticipates a re-acceleration of revenue growth in the U.S. and Canada for the April-to-June quarter [3] Subscriber Metrics - Netflix is no longer reporting subscriber numbers quarterly but plans to share select data during significant milestones; the last reported figure was 303 million global subscribers [2] Industry Context - The earnings report comes amid a challenging economic environment influenced by fluctuating tariffs, with analysts viewing Netflix as one of the least vulnerable companies in the media sector due to its service-based model [4] - Netflix's advertising business, which is relatively new, is expected to be less affected by a downturn in advertising compared to other media and tech companies [4] Programming Highlights - The first quarter saw the success of the series "Adolescence," which quickly became one of the most-streamed series in Netflix's history, with a sequel in development [5] - WWE Raw debuted on Netflix, enhancing its live weekly offerings following a multi-million dollar rights deal [5] Challenges - The film "Electric State," which cost at least $275 million, received poor reviews and garnered only 25.2 million views shortly after its release, underperforming compared to other Netflix films [6]