Netflix, Inc. (Netflix) reported a solid financial performance for the fiscal year ended December 31, 2023. The company's total revenues increased by 7% year-over-year to $33.72 billion, up from $31.62 billion in 2022. This growth was driven by a 7% increase in streaming revenues, which reached $33.64 billion. Operating income saw a significant rise of 23%, amounting to $6.95 billion compared to the previous year's $5.63 billion. The operating margin improved to 21%, up from 18% in 2022. Netflix's global streaming memberships saw a substantial increase, with paid net membership additions surging by 232% to 29.53 million. The total paid memberships at the end of the period stood at 260.28 million, marking a 13% increase from the previous year. Average monthly revenue per paying membership slightly decreased by 1% to $11.64. The company also highlighted...Show More

Netflix, Inc. (Netflix) reported a solid financial performance for the fiscal year ended December 31, 2023. The company's total revenues increased by 7% year-over-year to $33.72 billion, up from $31.62 billion in 2022. This growth was driven by a 7% increase in streaming revenues, which reached $33.64 billion. Operating income saw a significant rise of 23%, amounting to $6.95 billion compared to the previous year's $5.63 billion. The operating margin improved to 21%, up from 18% in 2022. Netflix's global streaming memberships saw a substantial increase, with paid net membership additions surging by 232% to 29.53 million. The total paid memberships at the end of the period stood at 260.28 million, marking a 13% increase from the previous year. Average monthly revenue per paying membership slightly decreased by 1% to $11.64. The company also highlighted the discontinuation of its DVD-by-mail service in September 2023, which had an immaterial impact on operations and financial results. Netflix's business development focused on streaming content, with a variety of membership plans and pricing adjustments expected in the future. The company also earns revenue from advertisements and consumer products, although these are not significant contributors to the overall revenue. Looking ahead, Netflix plans to continue investing significantly in global content, particularly original content, which will influence liquidity. The company anticipates that cash flows from operations, available funds, and access to financing sources will meet cash needs for the next twelve months and beyond. Netflix's stock repurchase program remains active, with $8.4 billion available for future repurchases as of December 31, 2023.