Netflix: targets raised with solid quarterly results

(CercleFinance.com) - On its quarterly earnings call on Thursday evening, Netflix slightly raised its operating margin forecast for FY 2024, to 27%, now targeting the top end of its revenue growth target range of 14% to 15%.
NB pmt +6% almost.

The video streaming platform unveiled EPS growth of 45% to $5.40 for the Q3 2024, with operating margin improving by seven points to 29.6%, above its forecast.

The group explained that it had also exceeded its revenue expectations, with revenues up 15% (+21% excluding currency effects) to $9.82bn, driven mainly by 15% growth in average paid subscriptions.

Netflix gained around five million net subscriptions in Q3, well above the consensus forecast of 3.5 million, continuing to benefit from the persistent impact of paid sharing and a strong content line-up, Canaccord Genuity points out.


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