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
Y/Y % Growth
“11.2%”
Period
Q1 FY2025
Measure
Company-defined measure
Source
Guidance table
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 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 $ 2,321 $ 1,537 Free Cash Flow $ 1,581 $ 2,137 $ 1,213 $ 2,194 $ 1,378 Shares (FD) 444.3 441.7 439.7 437.9 437.8 1 Q4 Results and Forecast Revenue in Q4 increased 16% year over year, or 19% on a foreign exchange (F/X) neutral basis 1 . This was slightly above our beginning-of-quarter forecast despite the strengthening of the US dollar vs. most currencies as membership growth and ad sales outpaced our forecast. Average paid memberships rose 15% year over year, while ARM 2 was up 1% year over year, or 3% on a F/X neutral basis. In Q4, membership growth was driven by broad strength across our content slate, improved product/market fit across all regions and
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.