Summary by Moomoo AI
Netflix, a leading global entertainment service, reported a robust financial performance for the third quarter ended September 30, 2024. The company saw a 15% year-on-year increase in total revenues, reaching $9.82 billion, up from $8.54 billion in the same period last year. Operating income surged by 52% to $2.91 billion, compared to $1.92 billion in the previous year, with an operating margin improvement from 22.4% to 29.6%. Despite a 42% decline in paid net membership additions, the company still managed a 14% growth in paid memberships at the end of the period, totaling 282.72 million. Average monthly revenue per paying membership remained stable at $11.69. The company's effective tax rate increased slightly to 13% from 12% the previous year. In terms of business development, Netflix continues to operate as a single segment and...Show More
