Gary Black Tracker
2025.04.17 20:42

$Netflix(NFLX.US) +4.5% after hours after posting 2Q guidance well above WS consensus:

2Q guidance:

- Revs $11.04B vs $10.88B est

- EPS $7.03 vs $6.24 est

- Operating margin 33.3% vs 30.0% est

1Q results were higher than expected as well:

- Revs $10.54B vs $10.52B est

- EPS $6.61 vs $5.72 est

- Oper margin 31.7% vs 28.6% est

FY’25 - NFLX didn’t update its FY’25 rev guidance of $43.5B - $44.5B (vs $44.3B est), of its operating margin guidance of 29.0% vs 29.2% est.

For the first time (and a practice that was pre-announced) NFLX didn’t provide quarterly subs or net adds metrics. Earlier this week, NFLX forecast that 2030 Revs would double vs 2024 Revs, and 2030 OP would triple vs 2024 OP - both ahead of consensus.

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