Earnings Updates | Q3 2024

October 24, 2024by toleg.work
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The corporate reporting period has is going.

Last week, 41 companies from the S&P 500 index reported.

Today, let’s take a look at Netflix. Its revenue is $9.8B. It grew by +3.5% compared to the corresponding value for the previous quarter and exceeded analysts’ expectations by +0.6%. Let’s analyze the company’s business in more detail.

Netflix is one of the largest streaming companies in the world with a subscriber base of over 278 million users from 190 countries. The company creates most of its content independently. The company also introduces paid subscriptions to video games and advertising integrations.

Netflix’s revenues increased by +15.2% year-on-year. During the reporting quarter, the company promoted advertising options in its subscriptions, the number of customers increased by +35% compared to the previous quarter. Netflix plans to launch advertising accounts in Q4 in Canada, and in early 2025 for customers around the world.

52% of the revenue structure is occupied by production costs and 48% by gross revenue. Over the past quarter, the company earned a profit of $2.3B. Its market capitalization is $327B.

After the publication of the report, Netflix shares rose by +11.0% to $763 per share. In general, market participants are satisfied with the company’s current financial results and reacted positively to the forecasts for the next quarter.

*surprise – % ratio between actual and expected revenue
**growth – % ratio of the amount of revenue for the last 4 quarters compared to this value calculated for the previous quarter

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