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Here's What Key Metrics Tell Us About Netflix (NFLX) Q1 Earnings
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For the quarter ended March 2024, Netflix (NFLX - Free Report) reported revenue of $9.37 billion, up 14.8% over the same period last year. EPS came in at $5.28, compared to $2.88 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.26 billion, representing a surprise of +1.18%. The company delivered an EPS surprise of +17.07%, with the consensus EPS estimate being $4.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Netflix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
EMEA - Paid memberships at end of period: 91,729 thousand versus the six-analyst average estimate of 91,050.94 thousand.
APAC - Paid memberships at end of period: 47,495 thousand compared to the 46,985.22 thousand average estimate based on six analysts.
LATAM - Paid memberships at end of period: 47,720 thousand versus the six-analyst average estimate of 47,012.85 thousand.
UCAN - Paid memberships at end of period: 82,658 thousand versus 81,411.78 thousand estimated by six analysts on average.
EMEA - Average paying memberships: 90,271 thousand versus 89,855.76 thousand estimated by five analysts on average.
APAC - Average revenue per membership: $7.35 versus the five-analyst average estimate of $7.62.
LATAM - Paid net membership additions (losses): 1,723 thousand versus 869.02 thousand estimated by five analysts on average.
LATAM - Average paying memberships: 46,859 thousand compared to the 46,431.51 thousand average estimate based on five analysts.
Revenue- United States and Canada: $4.22 billion versus $4.10 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change.
Revenue- Asia-Pacific: $1.02 billion versus the seven-analyst average estimate of $1.05 billion. The reported number represents a year-over-year change of +9.6%.
Revenue- Latin America: $1.17 billion versus the seven-analyst average estimate of $1.13 billion. The reported number represents a year-over-year change of +8.9%.
Revenue- Europe, Middle East and Africa: $2.96 billion versus the seven-analyst average estimate of $3.16 billion. The reported number represents a year-over-year change of +17.5%.
Shares of Netflix have returned -2.2% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Netflix (NFLX) Q1 Earnings
For the quarter ended March 2024, Netflix (NFLX - Free Report) reported revenue of $9.37 billion, up 14.8% over the same period last year. EPS came in at $5.28, compared to $2.88 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.26 billion, representing a surprise of +1.18%. The company delivered an EPS surprise of +17.07%, with the consensus EPS estimate being $4.51.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Netflix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- EMEA - Paid memberships at end of period: 91,729 thousand versus the six-analyst average estimate of 91,050.94 thousand.
- APAC - Paid memberships at end of period: 47,495 thousand compared to the 46,985.22 thousand average estimate based on six analysts.
- LATAM - Paid memberships at end of period: 47,720 thousand versus the six-analyst average estimate of 47,012.85 thousand.
- UCAN - Paid memberships at end of period: 82,658 thousand versus 81,411.78 thousand estimated by six analysts on average.
- EMEA - Average paying memberships: 90,271 thousand versus 89,855.76 thousand estimated by five analysts on average.
- APAC - Average revenue per membership: $7.35 versus the five-analyst average estimate of $7.62.
- LATAM - Paid net membership additions (losses): 1,723 thousand versus 869.02 thousand estimated by five analysts on average.
- LATAM - Average paying memberships: 46,859 thousand compared to the 46,431.51 thousand average estimate based on five analysts.
- Revenue- United States and Canada: $4.22 billion versus $4.10 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +17.1% change.
- Revenue- Asia-Pacific: $1.02 billion versus the seven-analyst average estimate of $1.05 billion. The reported number represents a year-over-year change of +9.6%.
- Revenue- Latin America: $1.17 billion versus the seven-analyst average estimate of $1.13 billion. The reported number represents a year-over-year change of +8.9%.
- Revenue- Europe, Middle East and Africa: $2.96 billion versus the seven-analyst average estimate of $3.16 billion. The reported number represents a year-over-year change of +17.5%.
View all Key Company Metrics for Netflix here>>>Shares of Netflix have returned -2.2% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.