Netflix co-CEO Gregory Peters said customer retention has been strong and that the entertainment industry has been resilient even during tougher economic times.

Netflix beat revenue and profit expectations and sees 13% growth. Executives said despite tariffs advertising is solid and subscriber engagement is still strong.

Netflix reported better-than-expected first-quarter earnings on Thursday and stuck by its current guidance, underlining why its shares can weather any downturn sparked by President Donald Trump’s trade policies.

Netflix raised the prices across most of its plans in January, with its premium plan hitting $24.99 per month. It also increased the price of its Extra Member option — its solution to password sharing — to $8.99 per month. Though Netflix already rolled out the increase in the US, UK, and Argentina, the streamer now plans to do the same in France.

Netflix (NASDAQ:NFLX) reported strong first-quarter earnings that exceeded Wall Street expectations, driven by price hikes and rising demand for its ad-supported subscription tiers. Shares rose 3% in after-hours