Netflix reports revenue of $9.37 billion vs $9.27 billion expected. Shares up 3%

• Earnings of $5.28 vs $4.52 estimate
• Streaming paid additions of 9.33m vs 5.11m est
• Q2 outlook $4.68 vs $4.54 est
• Operating income $2.633B vs $2.428B est

Shares are up 3% after hours.

“We’re raising our FY24 operating margin
forecast to 25%, based on F/X rates as of January ‘24, up from 24,” the company said.

They also said they’re “scaling ads to become a
more meaningful contributor to our business in ‘25 and beyond.” So we’ll all continue to pay the $15/month and it won’t be long before we get ads with that too.

The company also seems to be leaning into pulp lately, including hiring a new chief in the movie division. They said they want to improve the variety and quality of the entertainment “with more, great TV shows and
movies, a stronger slate of games and must-watch live programming.”

For Q2’24, they forecast revenue growth of 16%

This article was written by Adam Button at www.forexlive.com.