Netflix beats earnings expectations in Q3 with $5.40 per share, revenue rises 15% y/y.

From Nasdaq: 2024-10-18 11:13:00

Netflix reported strong third-quarter 2024 earnings, with $5.40 per share, beating estimates by 6.09%. Revenues of $9.82 billion rose 15% year over year. The company added 5.07 million subscribers, citing hit series like The Perfect Couple and Emily in Paris as contributors. Netflix plans to expand into live events and new series in the fourth quarter. They will stop reporting paid quarterly memberships and revenue per subscriber starting in 2025. Operating income increased by 51.8% year over year to $2.9 billion, and the company reported a free cash flow of $2.19 billion. For the fourth quarter of 2024, Netflix projects a 15% revenue growth and earnings of $4.23 per share. They expect paid net additions to rise sequentially in the fourth quarter. In 2025, they forecast revenues of $43-$44 billion.



Read more at Nasdaq: Netflix Q3 Earnings Beat, Revenues Rise Y/Y on Subscriber Gain