Netflix Inc
NFLX
$1 100.09 -1.68%
Exchange: NASDAQ | Sector: Communication Services | Industry: Entertainment
Q1 2024
Published: Apr 22, 2024

Earnings Highlights

  • Revenue of $9.38B up 15% year-over-year
  • EPS of $5.28 increased by 84.3% from previous year
  • Gross margin of 46.9%
  • Net income of 2.33B
  • ""Happy members watch more, they stick around longer, they tell friends, which all grows engagement, revenue and profit." - Ted Sarandos, Co-CEO" - Ted Sarandos

Netflix Inc (NFLX) Q1 2024 Financial Results: Strong Member Growth and Revenue Acceleration Amid Competitive Landscape

Executive Summary

Netflix Inc (NFLX) reported robust Q1 2024 results, showcasing a significant revenue increase of 14.95% year-over-year, totaling $9.38 billion. This upward trend is attributed to effective engagement with members and strategic pricing adjustments, yielding a net income boost of 78.7% compared to the same period last year. The company's strong member growth and renewed focus on engagement-driven strategies reflect its commitment to enhance value and satisfaction for subscribers, marking a pivotal moment in its growth trajectory. Management's insights emphasized ongoing improvements in content offerings and the advertising segment, suggesting a positive outlook for sustained growth in the coming quarters.

Key Performance Indicators

Revenue

9.38B
QoQ: 6.21% | YoY:14.95%

Gross Profit

4.40B
46.95% margin
QoQ: 24.94% | YoY:31.17%

Operating Income

2.64B
QoQ: 76.70% | YoY:54.21%

Net Income

2.33B
QoQ: 148.68% | YoY:78.70%

EPS

5.40
QoQ: 151.16% | YoY:84.30%

Revenue Trend

Margin Analysis

Key Insights

**Revenue:** $9.38 billion (YoY: +14.95%, QoQ: +6.21%) **Gross Profit:** $4.40 billion (YoY: +31.17%, QoQ: +24.94%) **Operating Income:** $2.64 billion (YoY: +54.21%, QoQ: +76.70%) **Net Income:** $2.33 billion (YoY: +78.70%, QoQ: +148.68%) **EPS:** $5.40 (YoY: +84.30%, QoQ: +151.16%) This performance illustrates Netflix’s effective engagement strategy and evolving revenue model, despite the cessation of regular membership reporting starting in 2025. Management noted significant impr...

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 10,542.80 6.61 +12.4% View
Q4 2024 10,246.51 4.27 +16.0% View
Q3 2024 9,824.70 5.40 +15.0% View
Q2 2024 9,526.01 4.88 +16.4% View
Q1 2024 9,381.68 5.28 +15.0% View