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What’s happening: Shares of Netflix gained on Monday after the company released its results for the first quarter.
What happened: The streaming giant reported better-than-expected sales and earnings for the latest quarter, with rising subscription and advertising revenues.
Co-CEO Greg Peters said that Netflix is looking to double its ad revenue in 2025.
How were the results: The Los Gatos, California-based company reported low double-digit growth in sales for the latest quarter.
Why it matters: Netflix, which has over 300 million customers worldwide, is continuing to witness new subscriber growth globally with consumers buying the company’s lower-priced subscription.
Netflix had increased prices for its subscription plans in January, raising the price for its ad-supported plan from $6.99 to $7.99 per month. Price for its standard ad-free plan was raised from $15.49 to $17.99 a month, while the premium plan’s price was hiked from $22.99 to $24.99 per month.
WWE RAW was launched on Netflix during the first quarter and the content has remained on the top 10 list each week since then.
Management said the third season of the most popular series “Squid Game” will debut on June 27, 2025. The company also highlighted that “Squid Game: Unleashed,” the game based on the series, will have fresh content related to the third season.
“We’re executing on our 2025 priorities: improving our series and film offering and growing our ads business; further developing newer initiatives like live programming and games; and sustaining healthy revenue and profit growth,” Netflix said in a statement.
Management guided to second-quarter revenues of $11.04 billion, representing 15.4% year-over-year growth, and earnings of $6.61 per share. The company maintained its revenue outlook of $43.5 billion to $44.5 billion for the full year.
How shares responded: Netflix’s shares gained 1.6% to close at $988.26 on Monday, following the release of quarterly results. The stock has climbed around 28% over the past six months.
What to watch: Investors will continue monitoring the launch of the latest season of Squid Game Season 3, which is expected to impact the company’s results ahead.
Context: The CAD/USD forex pair breached the resistance level of 1.38 and hit a six-month high on Tuesday.
Details: There is widespread concern in the global financial markets about the Trump administration’s continuously shifting stance on tariffs.
Investors also responded to the Bank of Canada keeping its benchmark rate unchanged at 2.75% after its meeting last week. The BoC refrained from easing interest rates due to inflation-related concerns stemming from US tariffs.
Governor of the Bank of Canada Tiff Macklem said policymakers need more clarity on the impact of tariffs. “That means being less forward-looking than usual until the situation is clearer,” he stated.
Higher prices of crude oil, one of Canada’s major exports, lent support to the loonie. WTI crude oil prices surged around 1.1% to trade at $63.80 a barrel this morning.
Strength in the US dollar weighed on the CAD/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, rose around 0.2% to 98.47 this morning.
The CAD/USD pair gained around 0.1% to 1.3835 this morning.
What to watch: Investors await the release of economic data on Canada’s PPI (1630 UAE Time) and raw materials prices (1630 UAE Time) today. Industrial producer prices in Canada, which rose by 0.4% in February, are expected to rise by 0.3% in March. Analysts expect commodity prices to rise 6.5% year-over-year in March, following a 9.3% gain in the previous month.
Other Markets: US trading indices closed lower on Monday, with the Dow Jones index, S&P 500 and Nasdaq 100 down by 2.48%, 2.36% and 2.46%, respectively.
Russian President Vladimir Putin said he is open to bilateral talks with Ukraine. The news sent the RUB/USD pair higher in forex trading this morning.
India’s infrastructure output rose by 3.8% year-over-year in March, accelerating from the 3.4% gain recorded in the previous month, lending some support to the INR/USD forex pair.
South Korea’s producer inflation rose 1.3% year-over-year in March, easing from the previous month’s 1.5%, sending the KRW/USD pair lower in forex trading this morning.
Indonesia’s trade surplus shrank to $4.33 billion in March, from $4.58 billion in the year-ago period, which exerted pressure on the IDR/USD forex pair.
New Zealand’s trade surplus widened significantly to $970 million in March, from a year-ago surplus of $476 million. However, the NZD/USD pair fell in forex trading this morning.
Spain’s balance of trade (1200 UAE Time), Eurozone’s government budget to GDP (1300 UAE Time), government debt to GDP (1300 UAE Time), consumer confidence (1800 UAE Time), US Redbook index (1655 UAE Time), Richmond Fed manufacturing index (1800 UAE Time), Richmond Fed manufacturing shipments index (1800 UAE Time), Richmond Fed services revenues index (1800 UAE Time) and money supply (2100 UAE Time), as well as Argentina’s economic activity (2300 UAE Time).
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