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NFLX First Take
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NFLX First Take

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TMT Breakout
Jan 21, 2025
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Looks great at first blush - Massive Q4 subs 18.9M vs bogeys at 13M and guide better than feared:

Q1 Rev guide $10.42B vs street at $10.48B and bogeys closer to $10.3B
$44B vs street at $43.5B and bogeys closer to $43B (14-17% fx neutral vs street at 13% and bogeys at 14%)
Operating Margin also above at 29% vs previous guide of 28% and street at 28.4%

$15B Buyback

Raising prices as well:

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