Company news: Netflix (NFLX) quarterly results beat analysts’ forecasts

Netflix (NFLX) reported Q3 FY2024 earnings of $5.40 per share (versus $3.73 per share in Q3 FY2023), beating analysts’ consensus estimate of $5.12 per share.

The company’s quarterly revenues amounted to $9.825 bln (+15.0% y/y), slightly beating analysts’ consensus estimate of $9.771 bln.

The company also issued upside guidance for Q4 FY2024, seeing EPS of $4.23 versus analysts’ consensus estimate of $3.90 and revenues of $10.128 bln versus analysts’ consensus estimate of $10.04 bln.

Netflix also said that it expects paid net adds to be higher in Q4 than Q3's +5.07 mln due to normal seasonality and a strong content slate.

For FY2025, the company foresees revenues of $43.00-44.00 bln versus analysts’ consensus estimate of $43.51 bln.

NFLX rose to $727.20 (+5.75%) in pre-market trading.