By George Glover
Netflix stock was rising Monday after a strong first-quarter earnings report helped it shrug off a slump for the broader market.
Shares climbed 3% to $1,001.96 ahead of the opening bell. Futures tracking the S&P 500 fell 1.1% as investors fretted about ongoing trade tensions between China and the U.S. and President Donald Trump's attacks on Federal Reserve Chair Jerome Powell.
Netflix posted better-than-expected profit and revenue after Thursday's closing bell. The U.S. stock market was closed for Good Friday.
The consensus on Wall Street is that the report showed that Netflix will be able to weather any downturn sparked by tariffs. The streamer stuck by its 2025 revenue guidance, signaling it isn't expecting consumers to cancel subscriptions even if Trump's levies do drag down economic growth.
"Entertainment historically has been pretty resilient in tougher economic times," Co-CEO Greg Peters said on a post-earnings video interview. "Netflix specifically also has been generally quite resilient."
Write to George Glover at george.glover@dowjones.com
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(END) Dow Jones Newswires
April 21, 2025 05:49 ET (09:49 GMT)
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