🔹 Revenue: $10.54B (Est. $10.50B) 🟢; UP +13% YoY
🔹 Diluted EPS: $6.61 (Est. $5.68) 🟢; UP +25% YoY
🔹 Operating Income: $3.35B (Est. $3.00B) 🟢; UP +27% YoY
🔹 Operating Margin: 31.7% (Est. 28.6%) 🟢
🔹 Free Cash Flow: $2.66B (Est. $2.04B) 🟢; UP +24% YoY
🔹 Net Cash from Operating Activities: $2.79B; UP +26% YoY
Q2'25 Guidance:
🔹 Revenue: $11.04B (Est. $10.88B) 🟢; UP +15% YoY
🔹 Operating Income (Guide): $3.68B
🔹 Operating Margin (Guide): 33%
Regional Revenue Performance:
🔹 U.S. & Canada (UCAN): $4.62B; UP +9% YoY
🔹 EMEA: $3.41B; UP +15% YoY
🔹 LATAM: $1.26B; UP +8% YoY
🔹 APAC: $1.26B; UP +23% YoY
Strategic & Business Updates:
🔸 Revenue and operating income beat guidance due to higher-than-expected ad and subscription revenue and timing of expenses
🔸 Company reiterates 2025 full-year guidance: Revenue $43.5B–$44.5B and Operating Margin 29%
🔸 Netflix tracking above midpoint of 2025 guidance due to favorable FX
🔸 Successfully launched in-house ad tech platform (Netflix Ads Suite) in the U.S. on April 1
🔸 Ads suite rollout planned across remaining countries in 2025
🔸 Q1 launch of WWE RAW ranked weekly Top 10 globally and in 29 countries
🔸 Upcoming Taylor vs. Serrano 3 boxing rematch to stream July 11
🔸 Opted into second NFL game for Christmas Day 2025
🔸 Full-year FCF guidance unchanged at $8B