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Netflix Inc (NFLX) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Netflix Inc

CIK: 1065280 Ticker: NFLX

Exhibit 99.1
April 20, 2021

Fellow shareholders,

Revenue grew 24% year over year and was in line with our beginning of quarter forecast, while operating profit and margin reached all-time highs. We finished Q1’21 with 208m paid memberships, up 14% year over year, but below our guidance forecast of 210m paid memberships. We believe paid membership growth slowed due to the big Covid-19 pull forward in 2020 and a lighter content slate in the first half of this year, due to Covid-19 production delays. We continue to anticipate a strong second half with the return of new seasons of some of our biggest hits and an exciting film lineup. In the short-term, there is some uncertainty from Covid-19; in the long-term, the rise of streaming to replace linear TV around the world is the clear trend in entertainment.

(in millions except per share data)Q1'20Q2'20Q3'20Q4'20Q1'21Q2'21 Forecast
Revenue$5,768 $6,148 $6,436 $6,644 $7,163 $7,302 
Y/Y % Growth27.6 %24.9 %22.7 %21.5 %24.2 %18.8 %
Operating Income$958 $1,358 $1,315 $954 $1,960 $1,865 
Operating Margin16.6 %22.1 %20.4 %14.4 %27.4 %25.5 %
Net Income$709 $720 $790 $542 $1,707 $1,441 
Diluted EPS$1.57 $1.59 $1.74 $1.19 $3.75 $3.16 
Global Streaming Paid Memberships182.86 192.95 195.15 203.66 207.64 208.64 
Y/Y % Growth22.8 %27.3 %23.3 %21.9 %13.6 %8.1 %
Global Streaming Paid Net Additions15.77 10.09 2.20 8.51 3.98 1.00 
Net cash provided by (used in) operating activities$260 $1,041 $1,264 $(138)$777 
Free Cash Flow*$162 $899 $1,145 $(284)$692 
Shares (FD)452.5 453.9 455.1 455.3 455.6 
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, April 20, 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-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 Page
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 - 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 (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)
Debt
Debt (Tables)
Debt - Maturities (Details)
Debt - Narrative (Details)
Debt - Revolving Line Of Credit (Details)
Debt - Summary Of Long-Term Debt (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)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Revenue And Membership Information (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Long-Lived Assets By Geographical Areas (Details)
Segment And Geographic 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 - Stock Repurchases (Details)
Stockholders' Equity Stockholders' Equity - Stock Option Plan Narrative (Details)
Ticker: NFLX
CIK: 1065280
Form Type: 10-Q Quarterly Report
Accession Number: 0001065280-21-000144
Submitted to the SEC: Thu Apr 22 2021 4:02:41 PM EST
Accepted by the SEC: Thu Apr 22 2021
Period: Wednesday, March 31, 2021
Industry: Video Tape Rental

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