Netflix Inc
NFLX
$1 100.09 -1.68%
Exchange: NASDAQ | Sector: Communication Services | Industry: Entertainment
Q2 2024
Published: Jul 19, 2024

Earnings Highlights

  • Revenue of $9.53B up 16.4% year-over-year
  • EPS of $4.88 increased by 49% from previous year
  • Gross margin of 45.7%
  • Net income of 2.15B
  • ""We're pleased with our performance in Q2. There was strong performance across-the-board, good momentum across the business, strong revenue growth, member growth and profit growth."" - Spencer Neumann

Netflix Inc (NFLX) Q2 2024 Financial Results Report: Strong Growth and Margin Expansion Amid Market Dynamics

Executive Summary

Netflix, Inc. reported robust Q2 2024 results, showcasing a consistent upward trajectory in revenue and profit. Revenue grew to $9.53 billion, marking a 17% increase year-over-year from $8.13 billion in Q2 2023, driven by a combination of strong member acquisition and retention, particularly influenced by the success of its content slate. The company also saw a notable increase in operating margin from 21% to 26%, reflecting effective cost management and operational efficiency. Key management discussions highlighted the encouraging performance driven by their strategic focus on content diversity and paid sharing initiatives, indicating an optimistic outlook for sustainable growth and profitability in the forthcoming quarters.

Key Performance Indicators

Revenue

9.53B
QoQ: 1.54% | YoY:16.35%

Gross Profit

4.35B
45.68% margin
QoQ: -1.19% | YoY:23.85%

Operating Income

2.57B
QoQ: -2.80% | YoY:40.62%

Net Income

2.15B
QoQ: -7.93% | YoY:44.35%

EPS

4.99
QoQ: -7.59% | YoY:48.96%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue:** $9.53 billion (YoY Increase: 17%)
  • **Net Income:** $2.15 billion (YoY Increase: 44%)
  • **EPS (Diluted):** $4.88 (YoY Increase: 49%)
  • **Operating Income Margin:** 26% (Vs 21% in Q1 2024)
  • **Free Cash Flow:** $1.21 billion

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