Edition:
India

Netflix Reports Q1 EPS Of $0.76


Wednesday, 17 Apr 2019 

April 16 (Reuters) - Netflix Inc ::REVENUE SURPASSED $4.5 BILLION IN Q1.IN Q1'19, AVERAGE STREAMING PAID MEMBERSHIPS INCREASED 26% YEAR OVER YEAR, WHILE ARPU DECREASED 2% YEAR OVER YEAR.EXCLUDING F/X, GLOBAL STREAMING ARPU IMPROVED 3% YEAR OVER YEAR AND 2% SEQUENTIALLY IN QUARTER.QTRLY EARNINGS PER SHARE $0.76.SEES Q2 EARNINGS PER SHARE $0.55.QTRLY GLOBAL STREAMING PAID NET ADDITIONS OF 9.60 MILLION.QTRLY REVENUE $$4,521 MILLION VERSUS $3,701 MILLION REPORTED LAST YEAR.SEES Q2 2019 GLOBAL STREAMING PAID NET ADDITIONS OF 5.00 MILLION.QTRLY LONG-TERM DEBT AS OF MARCH 31, 2019 WAS $10.31 BILLION.NO CHANGE TO OUR PLAN TO USE THE HIGH YIELD MARKET TO FINANCE OUR CASH NEEDS.QTRLY OPERATING MARGIN OF 10.2% EXCEEDED BEGINNING-OF-QUARTER EXPECTATION AS SOME SPENDING WAS SHIFTED FROM Q1 TO LATER IN THE YEAR.NOW EXPECT 2019 FREE CASH FLOW DEFICIT TO BE MODESTLY HIGHER AT APPROXIMATELY NEGATIVE $3.5 BILLION.QTRLY FREE CASH FLOW TOTALED NEGATIVE $460 MILLION VERSUS NEGATIVE $287 MILLION IN THE YEAR AGO QUARTER.WE’RE STILL EXPECTING FREE CASH FLOW TO IMPROVE IN 2020 AND EACH YEAR THEREAFTER.STILL EXPECTING FREE CASH FLOW TO IMPROVE IN 2020 AND EACH YEAR THEREAFTER, DRIVEN BY GROWING MEMBER BASE, REVENUES, OPERATING MARGINS."WORKING OUR WAY THROUGH A SERIES OF PRICE INCREASES IN THE US, BRAZIL, MEXICO AND PARTS OF EUROPE".NET CASH USED IN OPERATING ACTIVITIES IN Q1’19 WAS NEGATIVE $380 MILLION VERSUS. NEGATIVE $237 MILLION IN THE PRIOR YEAR PERIOD.