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Netflix Inc (NFLX) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Netflix Inc

CIK: 1065280 Ticker: NFLX


Exhibit 99.1
October 16, 2019

Fellow shareholders,

In Q3, we grew to $5.2 billion in revenue, up 31% over the prior year, and operating income doubled to $1.0 billion. Paid net adds totaled 6.8m compared to our 7.0m forecast and prior year Q3 of 6.1m. As we’ve improved the variety, diversity and quality of our content slate, member engagement has grown, revenue has increased, and we’re able to further fund our content investment.
(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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The following information was filed by Netflix Inc (NFLX) on Wednesday, October 16, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Netflix Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Components Of Content Assets (Details)
Balance Sheet Components - Deferred Revenue (Details)
Balance Sheet Components - Lease Maturities (Details)
Balance Sheet Components - Leases (Details)
Balance Sheet Components - Other Current Assets (Details)
Balance Sheet Components - Property And Equipment (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Cash, Cash Equivalents, And Restricted Cash
Cash, Cash Equivalents, And Restricted Cash (Details)
Cash, Cash Equivalents, And Restricted Cash (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Expected Timing Of Payments (Details)
Commitments And Contingencies - Legal Proceedings (Details)
Commitments And Contingencies - Streaming Content (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Shares (Details)
Earnings Per Share - Calculation Of Eps (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Maturities (Details)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Revolving Line Of Credit (Details)
Long-Term Debt - Summary Of Long-Term Debt (Details)
Segment Information
Segment Information (Tables)
Segment Information - Information On Reportable Segments And Reconciliation To Consolidated Net Income (Details)
Segment Information - Long-Lived Assets By Geographical Areas (Details)
Segment Information - Narrative (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Activity Related To Stock Option Plans (Details)
Stockholders' Equity - Amounts Related To Option Exercises (Details)
Stockholders' Equity - Assumptions Used To Value Stock Options (Details)
Stockholders' Equity - Narrative (Details)

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

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