Netflix Adds 9.3 Million Customers in Q1, Beats Revenue Forecasts With Whopping 15% Sales Growth [Yahoo! Finance]
Netflix, Inc. (NFLX)
Last netflix, inc. earnings: 4/21 04:00 pm
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Source: Yahoo! Finance
By comparison, Netflix revenue grew only 3.7% year over year in the first quarter of 2023, and the streaming company only added 1.75 million new members worldwide. Net income was up 79% year over year to $2.332 billion, while free cash flow was up narrowly to $2.137 billion. Netflix forecasted revenue growth of 16% for the second quarter. Netflix management attributed the big Q1 performance to more hits -- series Griselda The Last Airbender and 3 Body Problem received shareholder letter shoutouts. And Netflix also pointed to additional revenue streams, including its ad-supported tier and the conversion of former password sharers into paid memberships. Paid subscribers were up 2.53 million in the fourth quarter in the U.S. and Canada, where Netflix started cracking down on account sharing a year ago. With 82.66 million customers in the UCan region, Netflix is up more than 8 million users in the last 12 months. Meanwhile, Netflix said subscribers to its ad-supported tiers g
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NFLX
Earnings
- 4/18/24 - Beat
NFLX
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- 5/1/24 - Form 144
- 5/1/24 - Form 144
- 4/30/24 - Form 144
- NFLX's page on the SEC website