Netflix’s (NFLX) Q1 earnings grossly undershot analysts’ estimates for revenue, but marginally surpassed too much skepticism in terms of its earnings per share. The media streaming giant also gave a new timeline to crack down on the so-called password sharing practices.

Netflix said its Q1 revenue increased 3.7% to $8.16 billion. Diluted earnings per share (EPS) stood at $2.88 for the quarter, down from the same three-month span last year, while analysts had anticipated $8.18 billion for revenue, and 2023’s Q1 narrowly missed that. On diluted earnings per share, Netflix beat estimates by just about $0.02.

In fact, Netflix’s quarterly profits narrowed from the same time last year, with the media entertainment giant posting $1.3 billion in net income compared to $1.6 billion in Q1 of 2022.

The company reported that it managed to keep intact this recently reemerged trend of subscriber growth. Over the reporting period, it gained 1.75 million subscribers, a lift that brought the service’s total paid membership to 232.5 million. The Asia Pacific region led in new enrollments with 1.46 million, and all but the Latin American region saw net increases.

Netflix also offered an update to its plans and revealed the U.S. and other countries can expect to see the broader launch of the company’s new password-sharing restrictions in Q2. That wider campaign will appear after Canada, New Zealand, Portugal and Spain already saw their Netflix users become subject to a new paid sharing policy in February.

Since Netflix’s performance is still lacking stability, the stock remains a risky option for investors as a passive portfolio component.