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(in millions except per share data and Streaming Content Obligations) | Q3'18 | Q4'18 | Q1'19 | Q2'19 | Q3'19 | Q4'19 Forecast | ||||||||||||
Revenue | $ | 3,999 | $ | 4,187 | $ | 4,521 | $ | 4,923 | $ | 5,245 | $ | 5,442 | ||||||
Y/Y % Growth | 34.0 | % | 27.4 | % | 22.2 | % | 26.0 | % | 31.1 | % | 30.0 | % | ||||||
Operating Income | $ | 481 | $ | 216 | $ | 459 | $ | 706 | $ | 980 | $ | 475 | ||||||
Operating Margin | 12.0 | % | 5.2 | % | 10.2 | % | 14.3 | % | 18.7 | % | 8.7 | % | ||||||
Net Income | $ | 403 | $ | 134 | $ | 344 | $ | 271 | $ | 665 | $ | 232 | ||||||
Diluted EPS | $ | 0.89 | $ | 0.30 | $ | 0.76 | $ | 0.60 | $ | 1.47 | $ | 0.51 | ||||||
Global Streaming Paid Memberships | 130.42 | 139.26 | 148.86 | 151.56 | 158.33 | 165.93 | ||||||||||||
Y/Y % Growth | 25.4 | % | 25.9 | % | 25.2 | % | 21.9 | % | 21.4 | % | 19.2 | % | ||||||
Global Streaming Paid Net Additions | 6.07 | 8.84 | 9.60 | 2.70 | 6.77 | 7.60 | ||||||||||||
Net cash (used in) operating activities | $ | (690 | ) | $ | (1,235 | ) | $ | (380 | ) | $ | (544 | ) | $ | (502 | ) | |||
Free Cash Flow* | $ | (859 | ) | $ | (1,315 | ) | $ | (460 | ) | $ | (594 | ) | $ | (551 | ) | |||
Adjusted EBITDA** | $ | 584 | $ | 328 | $ | 584 | $ | 836 | $ | 1,107 | ||||||||
Shares (FD) | 451.9 | 451.1 | 451.9 | 452.2 | 451.6 | |||||||||||||
Streaming Content Obligations*** ($B) | 18.6 | 19.3 | 18.9 | 18.5 | 19.1 | |||||||||||||
Note: Figures are consolidated, including DVD. | ||||||||||||||||||
* Free cash flow represents Net Cash (used in) operating activities adjusted for acquisition of DVD content assets, purchases of property and equipment and change in other assets | ||||||||||||||||||
** Adjusted EBITDA represents net income before interest expense and other income/expense, income taxes, depreciation and amortization of property and equipment and further adjusted to exclude other non-cash charges or non-recurring items | ||||||||||||||||||
*** Corresponds to our total known streaming content obligations as defined in our financial statements and related notes in our most recently filed SEC Form 10-K |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Netflix Inc.
Netflix Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The increase in average monthly revenue per paying membership was due to price changes and a shift in the plan mix towards higher priced plans, partially offset by unfavorable fluctuations in foreign exchange rates.
In the three and nine months ended September 30, 2019, the foreign exchange gains were primarily driven by the gains of $171 million and $168 million, respectively, from the remeasurement of our 3,600 million Senior Notes, partially offset by the remeasurement of cash and content liability positions in currencies other than the functional currencies of our European and U.S. entities.
In addition, we had increased payments associated with higher operating expenses, interest on long-term debt, and income taxes.
In addition, we had increased payments associated with higher operating expenses, interest on long-term debt, and income taxes.
Other costs increased $60 million primarily due to increases in expenses associated with the acquisition, licensing and production of streaming content.
Other costs increased $191 million...Read more
Other costs increased $148 million...Read more
Other costs increased $418 million...Read more
Technology and development expenses consist...Read more
Other operations costs include customer...Read more
Nine months ended September 30,...Read more
At September 30, 2019, our...Read more
The 25% increase in our...Read more
We estimate that international revenues...Read more
Our "standard" plan is our...Read more
Our standard plan continues to...Read more
In addition, third-party expenses, including...Read more
In addition, third-party expenses, including...Read more
The effective tax rates for...Read more
We estimate that international revenues...Read more
Our core strategy is to...Read more
In addition, the average monthly...Read more
Net cash used in investing...Read more
Net cash used in investing...Read more
Our "premium" plan includes access...Read more
These contracts are primarily related...Read more
In the three and nine...Read more
However, these unknown obligations are...Read more
The increase in consolidated revenues...Read more
The following represents our consolidated...Read more
The increase in operating margin...Read more
Because we increasingly obtain multi-territory...Read more
Expenses associated with the acquisition,...Read more
The 40% increase in our...Read more
Free cash flow was $1,216...Read more
Three months ended September 30,...Read more
Net cash provided by financing...Read more
Cash, cash equivalents and restricted...Read more
We therefore believe paid memberships...Read more
We have built our own...Read more
In connection with the Tax...Read more
We do not have transactions...Read more
Marketing expenses also include payroll...Read more
The increase in interest expense...Read more
For the purpose of this...Read more
Net cash provided by financing...Read more
The assumptions utilized in determining...Read more
Free cash flow was $2,885...Read more
Free cash flow was $2,782...Read more
We are the world's leading...Read more
Long-term debt, net of debt...Read more
However, we believe that it...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Netflix Inc provided additional information to their SEC Filing as exhibits
Ticker: NFLX
CIK: 1065280
Form Type: 10-Q Quarterly Report
Accession Number: 0001065280-19-000368
Submitted to the SEC: Fri Oct 18 2019 9:24:20 AM EST
Accepted by the SEC: Fri Oct 18 2019
Period: Monday, September 30, 2019
Industry: Video Tape Rental