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Netflix Inc (NFLX) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Netflix Inc

CIK: 1065280 Ticker: NFLX

Exhibit 99.1
October 19, 2021

Fellow shareholders,

After a lighter-than-normal content slate in Q1 and Q2 due to COVID-related production delays in 2020, we are seeing the positive effects of a stronger slate in the second half of the year. In Q3, we grew revenue 16% year over year to $7.5 billion, while operating income rose 33% vs. the prior year quarter to $1.8 billion. We added 4.4m paid net adds (vs. 2.2m in Q3’20) to end the quarter with 214m paid memberships. We’re very excited to finish the year with what we expect to be our strongest Q4 content offering yet, which shows up as bigger content expense and lower operating margins sequentially.
(in millions except per share data)Q3'20Q4'20Q1'21Q2'21Q3'21Q4'21 Forecast
Revenue$6,436 $6,644 $7,163 $7,342 $7,483 $7,712 
Y/Y % Growth22.7 %21.5 %24.2 %19.4 %16.3 %16.1 %
Operating Income$1,315 $954 $1,960 $1,848 $1,755 $500 
Operating Margin20.4 %14.4 %27.4 %25.2 %23.5 %6.5 %
Net Income$790 $542 $1,707 $1,353 $1,449 $365 
Diluted EPS$1.74 $1.19 $3.75 $2.97 $3.19 $0.80 
Global Streaming Paid Memberships195.15 203.66 207.64 209.18 213.56 222.06 
Y/Y % Growth23.3 %21.9 %13.6 %8.4 %9.4 %9.0 %
Global Streaming Paid Net Additions2.20 8.51 3.98 1.54 4.38 8.50 
Net cash provided by (used in) operating activities$1,264 $(138)$777 $(64)$82 
Free Cash Flow*$1,145 $(284)$692 $(175)$(106)
Shares (FD)455.1 455.3 455.6 455.1 454.9 
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, October 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-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 Option Plan Narrative (Details)
Stockholders' Equity - Stock Repurchases (Details)
Ticker: NFLX
CIK: 1065280
Form Type: 10-Q Quarterly Report
Accession Number: 0001065280-21-000363
Submitted to the SEC: Thu Oct 21 2021 4:02:00 PM EST
Accepted by the SEC: Thu Oct 21 2021
Period: Thursday, September 30, 2021
Industry: Video Tape Rental

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