Netflix — Oct 17, 2024 release

(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, respectively. • Revenue in EMEA grew 16% year over year, consistent with the increase in average paid memberships. • We’re improving