HighGravityDataNetflix — Jan 21, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001065280-25-000033
Showing in the filing
Revenue
“$43.5-$44.5B”
Period
FY2025
Measure
GAAP-tied
Source
Prose
All guidance in this release · 21
Revenue for FY2025
“$43.5-$44.5B”
Operating margin for FY2025
“29%, up one point from our prior forecast”
Revenue for Q1 FY2025
“$10,416”
Y/Y % Growth for Q1 FY2025
“11.2%”
Operating Income for Q1 FY2025
“$2,940”
Operating Margin for Q1 FY2025
“28.2%”
Net Income for Q1 FY2025
“$2,440”
Diluted EPS for Q1 FY2025
“$5.58”
Revenue Y/Y Growth for FY2025
“12%-14%”
Ad revenue for FY2025
“a rough doubling”
Share repurchase program
“an incremental $15B”
Incremental Share Repurchase Authorization for the long term
“$15B”
Total buyback authorization
“$17.1B”
Total Buyback Authorization for the long term
“$17.1B”
FCF for FY2025
“about $8B”
Free cash flow for FY2025
“about $8B”
Cash content spend for FY2025
“roughly $18B”
Cash outflows related to timing of certain d… for FY2025
“an estimated $800M”
Cash outflows related to tax deposit timing for FY2025
“$800M”
Bond Repayment for FY2025
“$1.8B”
Debt maturities to pay down for FY2025
“$1.8B”
Exhibit 99.1 · the passage around this item
… earlier in the release
• Our priorities for 2025 are to: ◦ Improve our core business with more series and films our members love, an enhanced product experience and growth of our ads business; ◦ Further develop newer initiatives such as live programming and games; ◦ Sustain healthy growth - we now forecast 2025 revenue of $43.5-$44.5B (+$0.5B vs. prior forecast, despite the strengthening of the US dollar) and an operating margin of 29%, up one point from our prior forecast. • We maintain a leadership position in engagement, revenue and profit. We’re focused on improving all aspects of our service and, combined with the return in 2025 of our biggest shows ( Squid Game , Wednesday and Stranger Things ), we’re optimistic heading into the new year. Our summary results and forecast for Q1 are below. (in millions except per share data) Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Forecast Revenue $ 8,833 $ 9,370 $ 9,559 $ 9,825 $ 10,247 $ 10,416 Y/Y % Growth 12.5 % 14.8 % 16.8 % 15.0 % 16.0 % 11.2 % Operating Income $ 1,496 $ 2,633 $ 2,603 $ 2,909 $ 2,273 $ 2,940 Operating Margin 16.9 % 28.1 % 27.2 % 29.6 % 22.2 % 28.2 % Net Income $ 938 $ 2,332 $ 2,147 $ 2,364 $ 1,869 $ 2,440 Diluted EPS $ 2.11 $ 5.28 $ 4.88 $ 5.40 $ 4.27 $ 5.58 Global Streaming Paid Memberships 260.28 269.60 277.65 282.72 301.63 Y/Y % Growth 12.8 % 16.0 % 16.5 % 14.4 % 15.9 % Global Streaming Paid Net Additions 13.12 9.33 8.05 5.07 18.91 Net cash provided by operating activities $ 1,663 $ 2,213 $ 1,291 $
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.