Netflix Inc (NFLX) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

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Netflix Inc
Ticker: NFLX CIK: 1065280

Exhibit 99.1

January 19, 2021

Fellow shareholders,

2020 was an incredibly difficult year with extraordinary loss for so many families, new restrictions that none of us have ever had to live with before and great uncertainty. We’re enormously grateful that in these uniquely challenging times we’ve been able to provide our members around the world with a source of escape, connection and joy while continuing to build our business. With 8.5m paid net additions in Q4, we crossed the 200m paid memberships mark. For the full year, we added a record 37m paid memberships, achieved $25 billion in annual revenue (+24% year over year) and grew operating profit 76% to $4.6 billion. Our summary results and forecast are below.


(in millions except per share data)	Q4'19			Q1'20			Q2'20			Q3'20			Q4'20			Q1'21 Forecast
Revenue	$	5,467		$	5,768		$	6,148		$	6,436		$	6,644		$	7,129
Y/Y % Growth	30.6		%	27.6		%	24.9		%	22.7		%	21.5		%	23.6		%
Operating Income	$	459		$	958		$	1,358		$	1,315		$	954		$	1,780
Operating Margin	8.4		%	16.6		%	22.1		%	20.4		%	14.4		%	25.0		%
Net Income	$	587		$	709		$	720		$	790		$	542		$	1,355
Diluted EPS	$	1.30		$	1.57		$	1.59		$	1.74		$	1.19		$	2.97

Global Streaming Paid Memberships	167.09			182.86			192.95			195.15			203.66			209.66
Y/Y % Growth	20.0		%	22.8		%	27.3		%	23.3		%	21.9		%	14.7		%
Global Streaming Paid Net Additions	8.76			15.77			10.09			2.20			8.51			6.00

Net cash provided by (used in) operating activities	$	(1,462)		$	260		$	1,041		$	1,264		$	(138)
Free Cash Flow*	$	(1,670)		$	162		$	899		$	1,145		$	(284)
Shares (FD)	451.4			452.5			453.9			455.1			455.3
Note: Figures are consolidated, including DVD.
* Free cash flow represents Net Cash provided by (used in) operating activities less purchases of property and equipment and change in other assets.


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The following information was filed by Netflix Inc (NFLX) on Tuesday, January 19, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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