Netflix global memberships maintain double-digit growth
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 18 October 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Friday, October 18th. I'm Julie Morgan. |
| 0:13.1 | Netflix's top expectations. |
| 0:15.4 | Forward Air has reportedly started a formal sales process |
| 0:19.2 | and Stripe is in talks to acquire a startup. |
| 0:29.0 | Netflix is up 5% pre-market after the company easily topped expectations for profits and user growth in its third quarter earnings report. |
| 0:33.0 | Revenues grew 15% year over year to 9.8.25 billion, |
| 0:38.0 | and the company said it expected 15% growth for 2024 |
| 0:42.0 | after similar expectations for the fourth quarter. |
| 0:45.0 | Meanwhile operating margin rose to 30 percent from a year ago 22 percent leading |
| 0:51.3 | Netflix to bump its full year expectations to 27% from 26%. |
| 0:57.0 | After some concerns in 2022 about membership growth topping out, |
| 1:02.0 | the company has moved into a steady period of double digit growth of users, |
| 1:06.4 | and this quarter it again topped expectations. |
| 1:09.4 | Adding 5.07 million global paid net members, a 14.4% growth rate to land at |
| 1:16.2 | 282.72 million global paid memberships. |
| 1:20.5 | The story from previous quarters about an ad supported plan proving even more profitable than expected continues. |
| 1:28.0 | It has been nearly two years since Netflix launched its advertising business. |
| 1:32.0 | The companies said that their ads plan allowed Netflix launched its advertising business. |
| 1:32.6 | The companies said that their ads plan allows them to offer a lower price point for |
| 1:37.2 | consumers, which is proving to be popular. |
| 1:40.0 | And in Q3, it accounted for over 50% of sign-ups in their ad supported countries and |
... |
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