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Netflix Inc (NFLX) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

Netflix Inc

CIK: 1065280 Ticker: NFLX

Exhibit 99.1
April 19, 2022

Fellow shareholders,

Our revenue growth has slowed considerably as our results and forecast below show. Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration - when including the large number of households sharing accounts - combined with competition, is creating revenue growth headwinds. The big COVID boost to streaming obscured the picture until recently. While we work to reaccelerate our revenue growth - through improvements to our service and more effective monetization of multi-household sharing - we’ll be holding our operating margin at around 20%. Key to our success has been our ability to create amazing entertainment from all around the world, present it in highly personalized ways, and win more viewing than our competitors. These are Netflix's core strengths and competitive advantages. Together with our strong profitability, we believe we have the foundation from which we can both significantly improve, and better monetize, our service longer term.

(in millions except per share data)Q1'21Q2'21Q3'21Q4'21Q1'22Q2'22 Forecast
Revenue$7,163 $7,342 $7,483 $7,709 $7,868 $8,053 
Y/Y % Growth24.2 %19.4 %16.3 %16.0 %9.8 %9.7 %
Operating Income$1,960 $1,848 $1,755 $632 $1,972 $1,730 
Operating Margin27.4 %25.2 %23.5 %8.2 %25.1 %21.5 %
Net Income$1,707 $1,353 $1,449 $607 $1,597 $1,354 
Diluted EPS$3.75 $2.97 $3.19 $1.33 $3.53 $3.00 
Global Streaming Paid Memberships207.64 209.18 213.56 221.84 221.64 219.64 
Y/Y % Growth13.6 %8.4 %9.4 %8.9 %6.7 %5.0 %
Global Streaming Paid Net Additions3.98 1.54 4.38 8.28 (0.20)(2.00)
Net cash provided by (used in) operating activities$777 $(64)$82 $(403)$923 
Free Cash Flow*$692 $(175)$(106)$(569)$802 
Shares (FD)455.6 455.1 454.9 455.8 453.0 
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 19, 2022 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 For Content Obligations (Details)
Commitments And Contingencies - Indemnification (Details)
Commitments And Contingencies - Streaming Content (Details)
Debt
Debt (Tables)
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 - Computation Of Earnings Per Share (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: 0001065280-22-000145
Submitted to the SEC: Thu Apr 21 2022 4:03:01 PM EST
Accepted by the SEC: Thu Apr 21 2022
Period: Thursday, March 31, 2022
Industry: Video Tape Rental

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