Netflix — Oct 17, 2024 release

As we look ahead to 2025, we’re focused on improving every aspect of our service and continuing to deliver healthy revenue and profit growth. Our summary results, and forecast for Q4, are below. (in millions except per share data) Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Forecast Revenue $ 8,542  $ 8,833  $ 9,370  $ 9,559  $ 9,825  $ 10,128  Y/Y % Growth 7.8  % 12.5  % 14.8  % 16.8  % 15.0  % 14.7  % Operating Income $ 1,916  $ 1,496  $ 2,633  $ 2,603  $ 2,909  $ 2,190  Operating Margin 22.4  % 16.9  % 28.1  % 27.2  % 29.6  % 21.6  % Net Income $ 1,677  $ 938  $ 2,332  $ 2,147  $ 2,364  $ 1,847  Diluted EPS $ 3.73  $ 2.11  $ 5.28  $ 4.88  $ 5.40  $ 4.23  Global Streaming Paid Memberships 247.15  260.28  269.60  277.65  282.72  Y/Y % Growth 10.8  % 12.8  % 16.0  % 16.5  % 14.4  % Global Streaming Paid Net Additions 8.76  13.12  9.33  8.05  5.07  Net cash provided by operating activities $ 1,992  $ 1,663  $ 2,213  $ 1,291  $ 2,321  Free Cash Flow $ 1,888  $ 1,581  $ 2,137  $ 1,213  $ 2,194  Shares (FD) 450.0  444.3  441.7  439.7  437.9  1 Q3 Results Revenue in Q3 grew 15% (21% on a foreign exchange (F/X) neutral basis 1 ), 1% higher than our beginning of quarter forecast. Average paid memberships increased 15% year over year as paid net additions in Q3 were 5.1M vs. 8.8M in Q3’23. ARM 2 was flat year over year and up 5% on a F/X neutral basis 3 . Regional highlights include: • UCAN, our most mature market, saw a 16% year over year increase in revenue, driven by 10% and 5% growth in average paid memberships and ARM, re