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Netflix Earnings Report Q3 2024
Netflix for third quarter reported revenue of $9.83 billion, increased by 15% Year-over-Year (YoY) from $8.54 billion a year earlier. This growth was driven by initiatives such as the crackdown on password sharing, the introduction of an ad-supported tier, and last year's price increases on select subscription plans.
Net Income for the third quarter rose to $2.36 billion, or $5.40 per share, compared to $1.68 billion, or $3.73 per share, in the same quarter last year.
Netflix gained 5.1 million subscribers during the quarter, bringing its total membership to 282.7 million across all pricing tiers. However, starting in 2025, Netflix will stop reporting subscriber numbers to investors, shifting its focus toward revenue and other financial metrics as key performance indicators.
Looking ahead, Netflix plans to debut the second season of its hit series Squid Game in Q4, along with live sports events, including a boxing match between Jake Paul and Mike Tyson and two NFL games on Christmas Day.
The company posted diluted earnings per share (EPS) of $5.40, significantly surpassing the $3.73 EPS reported during the same period last year.
Moreover, Netflix's ad-tier memberships surged 35% quarter over quarter, and the company plans to launch the service in Canada next quarter, with a broader rollout set for 2025. While Netflix doesn’t anticipate advertising to become a major growth driver until 2026, the ad-tier accounted for over 50% of sign-ups during the third quarter in regions where it is currently available.
Outlook
On 17th October, Netflix shared its expectations for fourth-quarter revenue to hit $10.13 billion, with earnings per share projected at $4.23. Looking ahead, the company forecasts full-year 2025 revenue to be between $43 billion and $44 billion, driven by improvements in its core series and film offerings, along with investments in new initiatives like ads and gaming. A significant portion of this revenue growth is expected to come from what Netflix described as a “healthy increase in paid memberships".
The company anticipates Q4 operating margin of 22%
On 17th October, Netflix Shares surged approximately 5% in after-hours trading.
Sources:
1. Netflix
2. CNBC
Visit Us: https://graniteshares.com/institutional/uk/en-uk/
Capital at Risk | Sophisticated Investors Only
Net Income for the third quarter rose to $2.36 billion, or $5.40 per share, compared to $1.68 billion, or $3.73 per share, in the same quarter last year.
Netflix gained 5.1 million subscribers during the quarter, bringing its total membership to 282.7 million across all pricing tiers. However, starting in 2025, Netflix will stop reporting subscriber numbers to investors, shifting its focus toward revenue and other financial metrics as key performance indicators.
Looking ahead, Netflix plans to debut the second season of its hit series Squid Game in Q4, along with live sports events, including a boxing match between Jake Paul and Mike Tyson and two NFL games on Christmas Day.
The company posted diluted earnings per share (EPS) of $5.40, significantly surpassing the $3.73 EPS reported during the same period last year.
Moreover, Netflix's ad-tier memberships surged 35% quarter over quarter, and the company plans to launch the service in Canada next quarter, with a broader rollout set for 2025. While Netflix doesn’t anticipate advertising to become a major growth driver until 2026, the ad-tier accounted for over 50% of sign-ups during the third quarter in regions where it is currently available.
Outlook
On 17th October, Netflix shared its expectations for fourth-quarter revenue to hit $10.13 billion, with earnings per share projected at $4.23. Looking ahead, the company forecasts full-year 2025 revenue to be between $43 billion and $44 billion, driven by improvements in its core series and film offerings, along with investments in new initiatives like ads and gaming. A significant portion of this revenue growth is expected to come from what Netflix described as a “healthy increase in paid memberships".
The company anticipates Q4 operating margin of 22%
On 17th October, Netflix Shares surged approximately 5% in after-hours trading.
Sources:
1. Netflix
2. CNBC
Visit Us: https://graniteshares.com/institutional/uk/en-uk/
Capital at Risk | Sophisticated Investors Only
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