Summary by Moomoo AI
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