Netflix reported strong first-quarter 2026 financial results with $12.25B in revenue and earnings per share of $1.23, surpassing analyst expectations.Despite this growth, company shares dropped 8% after co-founder and chairman Reed Hastings announced his departure from the board this June.Hastings, who transitioned from operations three years ago, leaves behind a stable business with an operating margin of 32% as the company navigates a competitive media sector.