Exhibit 99.1
Netflix, Inc.
Consolidated Statements of Operations
(unaudited)
(in thousands)
 
 
Three Months Ended
 
Twelve Months Ended
 
March 31,
2016
 
June 30,
2016
 
September 30,
2016
 
December 31,
2016
 
December 31,
2016
As Previously Reported
 
 
 
 
 
 
 
 
 
Revenues
$
1,957,736

 
$
2,105,204

 
$
2,290,188

 
$
2,477,541

 
$
8,830,669

Cost of revenues
1,369,540

 
1,473,098

 
1,532,844

 
1,654,419

 
6,029,901

Marketing
208,010

 
216,029

 
282,043

 
284,996

 
991,078

Technology and development
203,508

 
207,300

 
216,099

 
225,191

 
852,098

General and administrative
127,225

 
138,407

 
153,166

 
159,001

 
577,799

Operating income
$
49,453

 
$
70,370

 
$
106,036

 
$
153,934

 
$
379,793

 
 
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

 
$

Cost of revenues
49,041

 
52,299

 
60,924

 
65,297

 
227,561

Marketing
23,455

 
24,561

 
28,974

 
29,451

 
106,441

Technology and development
(16,898
)
 
(17,096
)
 
(18,593
)
 
(19,279
)
 
(71,866
)
General and administrative
(55,598
)
 
(59,764
)
 
(71,305
)
 
(75,469
)
 
(262,136
)
Operating income
$

 
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
 
 
Revenues
$
1,957,736

 
$
2,105,204

 
$
2,290,188

 
$
2,477,541

 
$
8,830,669

Cost of revenues
1,418,581

 
1,525,397

 
1,593,768

 
1,719,716

 
6,257,462

Marketing
231,465

 
240,590

 
311,017

 
314,447

 
1,097,519

Technology and development
186,610

 
190,204

 
197,506

 
205,912

 
780,232

General and administrative
71,627

 
78,643

 
81,861

 
83,532

 
315,663

Operating income
$
49,453

 
$
70,370

 
$
106,036

 
$
153,934

 
$
379,793





nflxlogo2015a18.jpg
1

                                        

Netflix, Inc.
Consolidated Statements of Operations
(unaudited)
(in thousands)

 
Three Months Ended
 
Twelve Months Ended
 
March 31,
2017
 
June 30,
2017
 
September 30,
2017
 
December 31,
2017
 
December 31,
2017
As Previously Reported
 
 
 
 
 
 
 
 
 
Revenues
$
2,636,635

 
$
2,785,464

 
$
2,984,859

 
$
3,285,755

 
$
11,692,713

Cost of revenues
1,657,024

 
1,902,308

 
1,992,980

 
2,107,354

 
7,659,666

Marketing
271,270

 
274,323

 
312,490

 
419,939

 
1,278,022

Technology and development
257,108

 
267,083

 
255,236

 
273,351

 
1,052,778

General and administrative
194,291

 
213,943

 
215,526

 
239,808

 
863,568

Operating income
$
256,942

 
$
127,807

 
$
208,627

 
$
245,303

 
$
838,679

 
 
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

 
$

Cost of revenues
83,707

 
89,388

 
93,259

 
106,980

 
373,334

Marketing
34,878

 
36,837

 
39,956

 
46,588

 
158,259

Technology and development
(23,237
)
 
(24,599
)
 
(25,013
)
 
(26,219
)
 
(99,068
)
General and administrative
(95,348
)
 
(101,626
)
 
(108,202
)
 
(127,349
)
 
(432,525
)
Operating income
$

 
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
 
 
Revenues
$
2,636,635

 
$
2,785,464

 
$
2,984,859

 
$
3,285,755

 
$
11,692,713

Cost of revenues
1,740,731

 
1,991,696

 
2,086,239

 
2,214,334

 
8,033,000

Marketing
306,148

 
311,160

 
352,446

 
466,527

 
1,436,281

Technology and development
233,871

 
242,484

 
230,223

 
247,132

 
953,710

General and administrative
98,943

 
112,317

 
107,324

 
112,459

 
431,043

Operating income
$
256,942

 
$
127,807

 
$
208,627

 
$
245,303

 
$
838,679

























nflxlogo2015a18.jpg
2

                                        

Netflix, Inc.
Consolidated Statements of Operations
(unaudited)
(in thousands)

 
Three Months Ended
 
Nine Months Ended
 
March 31,
2018
 
June 30,
2018
 
September 30,
2018
 
September 30,
2018
As Previously Reported
 
 
 
 
 
 
 
Revenues
$
3,700,856

 
$
3,907,270

 
$
3,999,374

 
$
11,607,500

Cost of revenues
2,196,075

 
2,289,867

 
2,412,346

 
6,898,288

Marketing
479,222

 
526,780

 
435,269

 
1,441,271

Technology and development
300,730

 
317,213

 
327,026

 
944,969

General and administrative
278,251

 
311,197

 
344,065

 
933,513

Operating income
$
446,578

 
$
462,213

 
$
480,668

 
$
1,389,459

 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

Cost of revenues
104,504

 
112,564

 
118,782

 
335,850

Marketing
57,555

 
65,227

 
75,061

 
197,843

Technology and development
(18,420
)
 
(18,118
)
 
(18,406
)
 
(54,944
)
General and administrative
(143,639
)
 
(159,673
)
 
(175,437
)
 
(478,749
)
Operating income
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
Revenues
$
3,700,856

 
$
3,907,270

 
$
3,999,374

 
$
11,607,500

Cost of revenues
2,300,579

 
2,402,431

 
2,531,128

 
7,234,138

Marketing
536,777

 
592,007

 
510,330

 
1,639,114

Technology and development
282,310

 
299,095

 
308,620

 
890,025

General and administrative
134,612

 
151,524

 
168,628

 
454,764

Operating income
$
446,578

 
$
462,213

 
$
480,668

 
$
1,389,459



nflxlogo2015a18.jpg
3

                                        

Netflix, Inc.
Domestic Streaming Segment Results
(unaudited)
(in thousands)

 
Three Months Ended
 
Twelve Months Ended
 
March 31,
2016
 
June 30,
2016
 
September 30,
2016
 
December 31,
2016
 
December 31,
2016
As Previously Reported
 
 
 
 
 
 
 
 
 
Revenues
$
1,161,241

 
$
1,208,271

 
$
1,304,333

 
$
1,403,462

 
$
5,077,307

Cost of revenues
666,546

 
707,106

 
720,658

 
761,479

 
2,855,789

Marketing
81,942

 
86,806

 
108,495

 
105,589

 
382,832

Contribution profit
$
412,753

 
$
414,359

 
$
475,180

 
$
536,394

 
$
1,838,686

Contribution margin
35.5
%
 
34.3
%
 
36.4
%
 
38.2
%
 
36.2
%
 
 
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

 
$

Cost of revenues
21,210

 
22,293

 
25,562

 
27,119

 
96,184

Marketing
6,632

 
6,945

 
8,192

 
8,327

 
30,096

Contribution profit
$
(27,842
)
 
$
(29,238
)
 
$
(33,754
)
 
$
(35,446
)
 
$
(126,280
)
 
 
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
 
 
Revenues
$
1,161,241

 
$
1,208,271

 
$
1,304,333

 
$
1,403,462

 
$
5,077,307

Cost of revenues
687,756

 
729,399

 
746,220

 
788,598

 
2,951,973

Marketing
88,574

 
93,751

 
116,687

 
113,916

 
412,928

Contribution profit
$
384,911

 
$
385,121

 
$
441,426

 
$
500,948

 
$
1,712,406

Contribution margin
33.1
%
 
31.9
%
 
33.8
%
 
35.7
%
 
33.7
%


Netflix, Inc.
Domestic Streaming Segment Results
(unaudited)
(in thousands)

 
Three Months Ended
 
Twelve Months Ended
 
March 31,
2017
 
June 30,
2017
 
September 30,
2017
 
December 31,
2017
 
December 31,
2017
As Previously Reported
 
 
 
 
 
 
 
 
 
Revenues
$
1,470,042

 
$
1,505,499

 
$
1,547,210

 
$
1,630,274

 
$
6,153,025

Cost of revenues
749,488

 
831,962

 
864,408

 
873,372

 
3,319,230

Marketing
115,038

 
113,608

 
128,901

 
195,784

 
553,331

Contribution profit
$
605,516

 
$
559,929

 
$
553,901

 
$
561,118

 
$
2,280,464

Contribution margin
41.2
%
 
37.2
%
 
35.8
%
 
34.4
%
 
37.1
%
 
 
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

 
$

Cost of revenues
34,466

 
36,568

 
37,867

 
42,728

 
151,629

Marketing
11,215

 
11,295

 
12,632

 
15,273

 
50,415

Contribution profit
$
(45,681
)
 
$
(47,863
)
 
$
(50,499
)
 
$
(58,001
)
 
$
(202,044
)
 
 
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
 
 
Revenues
$
1,470,042

 
$
1,505,499

 
$
1,547,210

 
$
1,630,274

 
$
6,153,025

Cost of revenues
783,954

 
868,530

 
902,275

 
916,100

 
3,470,859

Marketing
126,253

 
124,903

 
141,533

 
211,057

 
603,746

Contribution profit
$
559,835

 
$
512,066

 
$
503,402

 
$
503,117

 
$
2,078,420

Contribution margin
38.1
%
 
34.0
%
 
32.5
%
 
30.9
%
 
33.8
%
Netflix, Inc.
Domestic Streaming Segment Results
(unaudited)
(in thousands)

 
Three Months Ended
Nine Months Ended
 
March 31,
2018
 
June 30,
2018
 
September 30,
2018
 
September 30,
2018
As Previously Reported
 
 
 
 
 
 
 
Revenues
$
1,820,019

 
$
1,893,222

 
$
1,937,314

 
$
5,650,555

Cost of revenues
894,873

 
925,703

 
991,823

 
2,812,399

Marketing
228,022

 
227,961

 
183,521

 
639,504

Contribution profit
$
697,124

 
$
739,558

 
$
761,970

 
$
2,198,652

Contribution margin
38.3
%
 
39.1
%
 
39.3
%
 
38.9
%
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

Cost of revenues
41,607

 
44,292

 
46,650

 
132,549

Marketing
22,697

 
23,337

 
27,074

 
73,108

Contribution profit
$
(64,304
)
 
$
(67,629
)
 
$
(73,724
)
 
$
(205,657
)
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
Revenues
$
1,820,019

 
$
1,893,222

 
$
1,937,314

 
$
5,650,555

Cost of revenues
936,480

 
969,995

 
1,038,473

 
2,944,948

Marketing
250,719

 
251,298

 
210,595

 
712,612

Contribution profit
$
632,820

 
$
671,929

 
$
688,246

 
$
1,992,995

Contribution margin
34.8
%
 
35.5
%
 
35.5
%
 
35.3
%


nflxlogo2015a18.jpg
4

                                        

Netflix, Inc.
International Streaming Segment Results
(unaudited)
(in thousands)

 
Three Months Ended
 
Twelve Months Ended
 
March 31,
2016
 
June 30,
2016
 
September 30,
2016
 
December 31,
2016
 
December 31,
2016
As Previously Reported
 
 
 
 
 
 
 
 
 
Revenues
$
651,748

 
$
758,201

 
$
853,480

 
$
947,666

 
$
3,211,095

Cost of revenues
629,899

 
698,162

 
748,515

 
834,794

 
2,911,370

Marketing
126,068

 
129,223

 
173,548

 
179,407

 
608,246

Contribution profit (loss)
$
(104,219
)
 
$
(69,184
)
 
$
(68,583
)
 
$
(66,535
)
 
$
(308,521
)
Contribution margin
(16.0
)%
 
(9.1
)%
 
(8.0
)%
 
(7.0
)%
 
(9.6
)%
 
 
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

 
$

Cost of revenues
27,831

 
30,006

 
35,362

 
38,178

 
131,377

Marketing
16,823

 
17,616

 
20,782

 
21,124

 
76,345

Contribution profit (loss)
$
(44,654
)
 
$
(47,622
)
 
$
(56,144
)
 
$
(59,302
)
 
$
(207,722
)
 
 
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
 
 
Revenues
$
651,748

 
$
758,201

 
$
853,480

 
$
947,666

 
$
3,211,095

Cost of revenues
657,730

 
728,168

 
783,877

 
872,972

 
3,042,747

Marketing
142,891

 
146,839

 
194,330

 
200,531

 
684,591

Contribution profit (loss)
$
(148,873
)
 
$
(116,806
)
 
$
(124,727
)
 
$
(125,837
)
 
$
(516,243
)
Contribution margin
(22.8
)%
 
(15.4
)%
 
(14.6
)%
 
(13.3
)%
 
(16.1
)%

nflxlogo2015a18.jpg
5

                                        



Netflix, Inc.
International Streaming Segment Results
(unaudited)
(in thousands)

 
Three Months Ended
 
Twelve Months Ended
 
March 31,
2017
 
June 30,
2017
 
September 30,
2017
 
December 31,
2017
 
December 31,
2017
As Previously Reported
 
 
 
 
 
 
 
 
 
Revenues
$
1,046,199

 
$
1,165,228

 
$
1,327,435

 
$
1,550,329

 
$
5,089,191

Cost of revenues
847,317

 
1,017,612

 
1,081,485

 
1,191,497

 
4,137,911

Marketing
156,232

 
160,715

 
183,589

 
224,155

 
724,691

Contribution profit (loss)
$
42,650

 
$
(13,099
)
 
$
62,361

 
$
134,677

 
$
226,589

Contribution margin
4.1
 %
 
(1.1
)%
 
4.7
 %
 
8.7
%
 
4.5
 %
 
 
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

 
$

Cost of revenues
49,241

 
52,820

 
55,392

 
64,252

 
221,705

Marketing
23,663

 
25,542

 
27,324

 
31,315

 
107,844

Contribution profit (loss)
$
(72,904
)
 
$
(78,362
)
 
$
(82,716
)
 
$
(95,567
)
 
$
(329,549
)
 
 
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
 
 
Revenues
$
1,046,199

 
$
1,165,228

 
$
1,327,435

 
$
1,550,329

 
$
5,089,191

Cost of revenues
896,558

 
1,070,432

 
1,136,877

 
1,255,749

 
4,359,616

Marketing
179,895

 
186,257

 
210,913

 
255,470

 
832,535

Contribution profit (loss)
$
(30,254
)
 
$
(91,461
)
 
$
(20,355
)
 
$
39,110

 
$
(102,960
)
Contribution margin
(2.9
)%
 
(7.8
)%
 
(1.5
)%
 
2.5
%
 
(2.0
)%

nflxlogo2015a18.jpg
6

                                        

Netflix, Inc.
International Streaming Segment Results
(unaudited)
(in thousands)

 
Three Months Ended
Nine Months Ended
 
March 31,
2018
 
June 30,
2018
 
September 30,
2018
 
September 30,
2018
As Previously Reported
 
 
 
 
 
 
 
Revenues
$
1,782,086

 
$
1,921,144

 
$
1,973,283

 
$
5,676,513

Cost of revenues
1,258,809

 
1,324,240

 
1,383,422

 
3,966,471

Marketing
251,200

 
298,819

 
251,748

 
801,767

Contribution profit
$
272,077

 
$
298,085

 
$
338,113

 
$
908,275

Contribution margin
15.3
%
 
15.5
%
 
17.1
%
 
16.0
%
 
 
 
 
 
 
 
 
Reclassifications
 
 
 
 
 
 
 
Revenues
$

 
$

 
$

 
$

Cost of revenues
62,897

 
68,272

 
72,132

 
203,301

Marketing
34,858

 
41,890

 
47,987

 
124,735

Contribution profit
$
(97,755
)
 
$
(110,162
)
 
$
(120,119
)
 
$
(328,036
)
 
 
 
 
 
 
 
 
As Revised
 
 
 
 
 
 
 
Revenues
$
1,782,086

 
$
1,921,144

 
$
1,973,283

 
$
5,676,513

Cost of revenues
1,321,706

 
1,392,512

 
1,455,554

 
4,169,772

Marketing
286,058

 
340,709

 
299,735

 
926,502

Contribution profit
$
174,322

 
$
187,923

 
$
217,994

 
$
580,239

Contribution margin
9.8
%
 
9.8
%
 
11.0
%
 
10.2
%


nflxlogo2015a18.jpg
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