the US video streaming service provider Netflix today
announced the company's financial report for the third quarter of fiscal year
2022. According to the financial report, the company’s third-quarter revenue
was $7.926 billion, an increase of 5.9% compared with $7.483 billion in the
same period last year; net profit was $1.398 billion, a decrease of 3.5% compared
with $1.449 billion in the same period last year; Earnings were $3.10, compared
with $3.19 a year earlier.
Netflix's third-quarter revenue and earnings per share
exceeded Wall Street analysts' previous expectations, and the number of new
paid subscribers around the world also exceeded expectations, pushing its
shares up nearly 14% in after-hours.
Separately, Netflix announced it will begin cracking down
on password sharing next year, opting to allow people who have been relying on
borrowed accounts to watch videos to create their own accounts. The company
will also allow people to share their accounts to create sub-accounts to pay
friends or family members for using their accounts.
Main achievement:
In the quarter ended September 30, Netflix's net profit
was $1.398 billion, down 3.5% from $1.449 billion in the same period last year;
earnings per share were $3.10, compared with $3.19 in the same period last year
, which exceeded analysts' previous expectations. According to data provided by
Yahoo Finance Channel, 31 analysts had expected Netflix to earn $2.13 per share
in the third quarter on average.
Netflix's third-quarter revenue was $7.926 billion, up
5.9% from $7.483 billion in the same period last year, also beating analysts'
expectations. According to data provided by Yahoo Finance Channel, 31 analysts
had expected Netflix's third-quarter revenue to reach $7.84 billion on average.
By region, Netflix’s streaming service revenue from the
U.S. and Canada markets in the third quarter was $3.602 billion, compared with
$3.258 billion in the same period last year; streaming services from the EMEA
market Revenue was $2.376 billion, compared to $2.432 billion in the same
period last year; revenue from Latin America was $1.024 billion, compared to
$915 million in the same period last year; revenue from Asia Pacific was $889
million, compared with $834 million a year earlier.
Netflix's operating profit in the third quarter was $1.533
billion, compared with $1.755 billion in the same period last year; operating
profit margin was 19.3%, compared with 23.5% in the same period last year.
On a non-GAAP basis, Netflix's adjusted EBITDA (net income
before interest, taxes, depreciation and amortization) in the third quarter was
$1.770 billion. For the trailing 12 months ended September 30, 2022, Netflix's
adjusted EBITDA was $6.543 billion.
Netflix's net cash from operating activities in the third
quarter was $557 million, compared with $82 million in net cash from operating
activities in the same period last year; free cash flow was $472 million,
compared with the same period last year was -$106 million. Netflix continues to
expect full-year free cash flow in fiscal 2022 to be around $1 billion (plus or
minus hundreds of millions of dollars), and expects a substantial increase in
free cash flow in fiscal 2023 (assuming the dollar exchange rate does not
further increase) substantial appreciation).
Netflix's third-quarter cost of revenue was $4.789
billion, compared with $4.207 billion in the same period last year; marketing
expenses were $568 million, compared with $636 million in the same period last
year; technology and development expenses were $663 million, This compares to
$564 million in the same period last year; general and administrative expenses
were $373 million compared to $322 million in the same period last year.
User data:
The total number of paying subscribers to Netflix's
streaming service worldwide reached 223.09 million in the third quarter, up
4.5% from 213.56 million in the same period last year. By region, the number of
paying subscribers for streaming services in the United States and Canada in
the third quarter was 73.39 million, compared with 74.02 million in the same
period last year; the number of paying subscribers for streaming services in
the EMEA region was 73.53 million 39.94 million paying subscribers for
streaming services in Latin America, compared to 38.99 million for the same
period last year; 3,623 paying subscribers for streaming services in Asia Pacific
10,000 people, compared with 30.05 million in the same period last year.
Netflix added 2.41 million new paying subscribers to its
streaming service globally in the third quarter, compared with 4.38 million in
the same period last year, exceeding analysts’ expectations. According to data
provided by market intelligence agency StreetAccount, Wall Street analysts had
expected on average that Netflix would add 1.09 million new paying subscribers
to its streaming service globally in the third quarter.
By region, Netflix added 100,000 new paid subscribers in
the U.S. and Canada in the third quarter, compared to 70,000 in the same period
last year; 570,000 new paid subscribers in EMEA , compared with 1.8 million in
the same period last year; the number of new paying users in Latin America was
310,000, compared with 330,000 in the same period last year; the number of new
paying users in Asia Pacific was 1.43 million, That compares with 2.18 million
a year earlier.
From the perspective of revenue per user, Netflix's
average revenue per user from the United States and Canada in the third quarter
was $16.37, an increase of 12% compared with $14.68 in the same period last
year, excluding the impact of exchange rate changes. It was also a year-on-year
increase of 12% %; average revenue per user from EMEA was $10.81, down 7% from
$11.65 in the same period last year, and up 7% excluding the impact of currency
changes; from Latin America Average revenue per user was $8.58, an increase of
9% from $7.86 in the same period last year, or a 16% increase excluding the
impact of currency changes; average revenue per user from the Asia Pacific
region was $8.34, compared with $7.86 in the same period last year $9.60 was
down 13% compared to the same period last year, or 3% year-over-year excluding
the impact of currency changes.
Performance Outlook:
Netflix expects the company's revenue to reach $7.776
billion in the fourth quarter of fiscal 2022, an increase of 0.9% compared to
the same period last year, a performance outlook that missed analysts'
expectations; operating profit will reach $330 million, operating profit The
net profit rate will reach 4.2%; the net profit will reach 136 million US
dollars, and the earnings per share will reach 0.36 US dollars. This outlook
also fails to meet analysts' expectations; the net increase in the number of paying
users of global streaming services will reach 4.5 million, and the total number
of It reached 227.59 million, a year-on-year increase of 2.6%.
According to data provided by Yahoo Finance Channel, 30
analysts had expected Netflix's fourth-quarter revenue to reach $7.97 billion
on average, and 30 analysts had previously expected Netflix's fourth-quarter
earnings per share to reach $1.12.
Share price changes:
On the same day, Netflix shares fell $4.24 in regular
trading on the Nasdaq stock market to close at $240.86, or 1.73%. In the
subsequent after-hours trading as of 6:08 p.m. Eastern Time on the 18th (6:08
a.m. Beijing time on the 19th), Netflix shares rose sharply by $33.38, or
13.86%, to $274.24. Over the past 52 weeks, Netflix has had a high of $700.99
and a low of $162.71. (Tang Feng)
source: https://sina.com.cn/
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