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Netflix | ARS: Annual Report to Security Holders

SEC announcement ·  Apr 18 17:12
Summary by Moomoo AI
Netflix, Inc. (Netflix) has released its annual report for the fiscal year ended December 31, 2023. The report includes comprehensive financial data, showing a 7% increase in total revenues, reaching $33.7 billion. The company's operating income rose by 23% to $7 billion, with an operating margin of 21%. Netflix's global streaming memberships saw a significant increase, with 29.5 million paid net membership additions, marking a 232% rise from the previous year, and ending with 260 million paid memberships. The report also details the company's content assets, liabilities, and commitments, including $21.7 billion in content obligations. Netflix's effective tax rate for the year was 13%, with a provision for income taxes of $797 million. The company's cash, cash equivalents, and short-term investments grew by 17% to $7.1 billion. Netflix's...Show More
Netflix, Inc. (Netflix) has released its annual report for the fiscal year ended December 31, 2023. The report includes comprehensive financial data, showing a 7% increase in total revenues, reaching $33.7 billion. The company's operating income rose by 23% to $7 billion, with an operating margin of 21%. Netflix's global streaming memberships saw a significant increase, with 29.5 million paid net membership additions, marking a 232% rise from the previous year, and ending with 260 million paid memberships. The report also details the company's content assets, liabilities, and commitments, including $21.7 billion in content obligations. Netflix's effective tax rate for the year was 13%, with a provision for income taxes of $797 million. The company's cash, cash equivalents, and short-term investments grew by 17% to $7.1 billion. Netflix's debt increased slightly by 1% to $14.5 billion. The report also outlines the company's stock repurchase program, with $8.4 billion remaining for future repurchases. The company's management, including Co-CEOs Ted Sarandos and Greg Peters, have evaluated and confirmed the effectiveness of disclosure controls and procedures, as well as internal control over financial reporting.

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