Netflix Q2 revenue $9.56B (+17% YoY), EPS $4.88; raises FY24 margin guide to 26%

NETFLIX INC

2024-Q2 EPS reported $10.16 revenue$18,929,750,000

Q2 revenue $9.56B (+17% YoY), operating margin 27.2% vs 22.3% YoY, EPS $4.88 (+48% YoY).
Paid net adds 8.05M (vs 5.89M YoY); 277.65M total members (+16.5% YoY). Ads tier membership +34% QoQ.
FY24 revenue growth guidance raised to 14-15% (from 13-15%); operating margin now 26% (from 25%).
Q2 free cash flow $1.2B; FY24 FCF still ~$6B. Repurchased 2.6M shares for $1.6B.
Building in-house ad tech platform to test in Canada in 2024, broader launch in 2025.

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