Netflix beat Q1 revenue estimates at $12.3B but stock fell 9% on weak Q2 earnings guidance of 78 cents per share versus 84 cents expected.
Co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests.
The company raised subscription prices in March, with the standard ad-free plan now at $20/month, as Wall Street watches for subscriber retention signals.