Netflix Q3 beats on earnings; raises FY23 operating margin and FCF guidance; boosts buyback by $10B

NETFLIX INC

2023-Q3 EPS reported $9.90 revenue$24,890,472,000

Q3 revenue $8.54B (+7.8% YoY); EPS $3.73 vs $3.10 last year; paid net adds 8.76M.
FY23 operating margin guidance raised to 20% (high end); FY24 operating margin expected 22-23%.
FY23 free cash flow forecast raised to ~$6.5B (from at least $5B); Q3 FCF $1.888B.
Board authorized additional $10B share repurchase; total available ~$10.9B as of Sep 30.
Ads plan membership grew 70% QoQ; price increases announced in US, UK, France.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NETFLIX INC reported the quarter ended September 30, 2023 results: revenue $8.5B, net income $1.677, EPS $3.73. Guidance reaffirmed.

Period: the quarter ended September 30, 2023
Revenue: $8.5B
Net income: $1.677
EPS: $3.73
Guidance: reaffirmed
Result: reported results

Exact text from the filing

reference in such filing. --- EX-99.1 (EX-99.1) --- October 18, 2023 Fellow shareholders, Summary: • Our Q3 financials were in-line with to ahead of forecast with revenue of $8.5B, paid net adds of 9M and operating margin of 22.4%. We now expect operating margin 1 of 20% for FY23 (the high end of our 18% to 20% range). • We now expect FY23 free cash flow

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Source: SEC EDGAR

accession 0001065280-23-000272

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