Netflix’s first-quarter earnings positively surprised the markets with a sharp growth in subscriptions, Swissquote Bank senior analyst Ipek Ozkardeskaya says in a note. The streaming-service platform added more than 9 million new viewers and reported its best start to a year since the pandemic, the analyst highlights. Its performance was boosted by the ban on password-sharing, after Netflix estimated around 100 million people were using an account without paying for it, Ozkardeskaya says. However, comments on its 2Q revenue outlook fail to impress, along with investors’ disappointment regarding Netflix’s decision to stop reporting quarterly subscribers next year, the analyst adds. Shares in premarket trading are down 6.4% at $571.35.