The Globe and Mail reports in its Friday edition that Netflix's streaming strength led to a positive quarterly revenue outlook. A Reuters dispatch to The Globe reports that the company's first quarter results surpassed Wall Street earnings expectations, buoyed by hit series like Adolescence, Zero Day and Temptation Island. So far this year, the stock has increased by 9 per cent, while the S&P 500 has seen a 10-per-cent decline. Netflix also announced that co-founder Reed Hastings stepped down as executive chairman to become the non-executive chair as part of leadership evolution and succession planning. Netflix has signed up over 300 million global customers, attracting many to its ad-supported, lower-priced tier launched in late 2022. This tier now represents 55 per cent of new sign-ups in applicable countries, as the company builds an advertising business to diversify revenue. Netflix reported revenue of $10.54-billion (U.S.) for the first quarter, edging past analysts' estimates of $10.52-billion (U.S.). Diluted per-share earnings of $6.61 (U.S.) exceeded consensus estimates of $5.71 (U.S.). For the year, Netflix reaffirmed its forecast of revenue between $43.5-billion (U.S.) and $44.5-billion (U.S.).