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Compared to Estimates, Netflix (NFLX) Q2 Earnings: A Look at Key Metrics
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Netflix (NFLX - Free Report) reported $9.56 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 16.8%. EPS of $4.88 for the same period compares to $3.29 a year ago.
The reported revenue represents a surprise of +0.29% over the Zacks Consensus Estimate of $9.53 billion. With the consensus EPS estimate being $4.70, the EPS surprise was +3.83%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 93,964 thousand versus 93,767.7 thousand estimated by five analysts on average.
APAC - Paid memberships at end of period: 50,324 thousand compared to the 48,844.87 thousand average estimate based on five analysts.
LATAM - Paid memberships at end of period: 49,250 thousand versus the five-analyst average estimate of 48,896.43 thousand.
UCAN - Paid memberships at end of period: 84,109 thousand versus 84,054.19 thousand estimated by five analysts on average.
EMEA - Average paying memberships: 92,847 thousand compared to the 92,878.19 thousand average estimate based on four analysts.
APAC - Average revenue per membership: $7.17 versus $7.08 estimated by four analysts on average.
LATAM - Paid net membership additions (losses): 1,530 thousand versus the four-analyst average estimate of 1,220.54 thousand.
LATAM - Average paying memberships: 48,485 thousand compared to the 48,330.27 thousand average estimate based on four analysts.
Revenue- United States and Canada: $4.30 billion compared to the $4.26 billion average estimate based on six analysts. The reported number represents a change of +19.3% year over year.
Revenue- Asia-Pacific: $1.05 billion versus the six-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +14.4%.
Revenue- Latin America: $1.20 billion versus the six-analyst average estimate of $1.18 billion. The reported number represents a year-over-year change of +11.8%.
Revenue- Europe, Middle East and Africa: $3.01 billion compared to the $3.04 billion average estimate based on six analysts. The reported number represents a change of +17.4% year over year.
Shares of Netflix have returned -5.6% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Netflix (NFLX) Q2 Earnings: A Look at Key Metrics
Netflix (NFLX - Free Report) reported $9.56 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 16.8%. EPS of $4.88 for the same period compares to $3.29 a year ago.
The reported revenue represents a surprise of +0.29% over the Zacks Consensus Estimate of $9.53 billion. With the consensus EPS estimate being $4.70, the EPS surprise was +3.83%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 93,964 thousand versus 93,767.7 thousand estimated by five analysts on average.
- APAC - Paid memberships at end of period: 50,324 thousand compared to the 48,844.87 thousand average estimate based on five analysts.
- LATAM - Paid memberships at end of period: 49,250 thousand versus the five-analyst average estimate of 48,896.43 thousand.
- UCAN - Paid memberships at end of period: 84,109 thousand versus 84,054.19 thousand estimated by five analysts on average.
- EMEA - Average paying memberships: 92,847 thousand compared to the 92,878.19 thousand average estimate based on four analysts.
- APAC - Average revenue per membership: $7.17 versus $7.08 estimated by four analysts on average.
- LATAM - Paid net membership additions (losses): 1,530 thousand versus the four-analyst average estimate of 1,220.54 thousand.
- LATAM - Average paying memberships: 48,485 thousand compared to the 48,330.27 thousand average estimate based on four analysts.
- Revenue- United States and Canada: $4.30 billion compared to the $4.26 billion average estimate based on six analysts. The reported number represents a change of +19.3% year over year.
- Revenue- Asia-Pacific: $1.05 billion versus the six-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +14.4%.
- Revenue- Latin America: $1.20 billion versus the six-analyst average estimate of $1.18 billion. The reported number represents a year-over-year change of +11.8%.
- Revenue- Europe, Middle East and Africa: $3.01 billion compared to the $3.04 billion average estimate based on six analysts. The reported number represents a change of +17.4% year over year.
View all Key Company Metrics for Netflix here>>>Shares of Netflix have returned -5.6% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.