Netflix reports mixed earnings as password crackdown set to expand

FILE PHOTO: Smartphone with Netflix logo is seen in front of a stock graph in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - Netflix Inc beat Wall Street earnings estimates for the first quarter but offered a lighter-than-expected forecast on Tuesday, demonstrating the challenges the mature streaming service faces in its pursuit of growth.

The company said it shifted a wider launch of a plan to crack down on unsanctioned password sharing into the second quarter to make improvements, delaying some financial benefits, but said it was pleased with results so far.