Netflix: targets raised with solid quarterly results

(CercleFinance.com) - On the occasion of its quarterly publication on Thursday evening, Netflix announced that it had slightly raised its operating margin forecast for the whole of 2024, to 27%, and was now aiming for the top end of its revenue growth target range of 14% to 15%.


The video streaming platform unveiled EPS growth of 45% to $5.40 for the third quarter of 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 $9.82 billion, driven mainly by 15% growth in average paid subscriptions.

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

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