Fri, Jul 19, 8:05 PM (50 days ago)
Netflix, Inc. reported strong financial performance for Q2 2024, with revenues rising 17% year-over-year to $9.56 billion, driven by an increase in average paying memberships and price hikes. Operating income surged 42% to $2.60 billion, resulting in an operating margin of 27%, up from 22% in Q2 2023. Net income climbed to $2.15 billion, up from $1.49 billion, reflecting a 44% increase. Cash flow from operations was $1.29 billion, a 10% decrease due to higher content spending. The company repurchased $1.6 billion in shares and reduced debt by $563 million. Netflix anticipates continued investment in content, supported by its robust cash flow and access to credit. Key risks include foreign exchange volatility and content costs. Future operations will focus on global content expansion and maintaining strong financial health.