Netflix: Profits Soar After Password Sharing Crackdown

UNITED STATES – Netflix’s profits surged in the first quarter of this year, boosted in part by measures to combat password sharing.

With a whopping 9.3 million new subscribers, totaling nearly 270 million, the streaming giant said its profits soared to over $2.3 billion.

However, it says it will cease reporting subscriber numbers next year, shifting focus to profits and revenue.

While challenges persist, analysts say its original content slate remains a key retention strategy in a competitive market.