NFLX beats on subscriber growth
NFLX results showed subscriber growth came in better than expected at 7.66m. This was almost 70% than its projection of 4.5m. Wall street had a forecast of 4.6m.
Revenue was up 1.8% to $7.85bn, in line with estimates. Company operating income was $550m, 66% better than the forecast number. Free cash flow was 1.6bn, higher than its forecasted $1bn. The company expects "at least" $3bn in free cash flow for 2023.
COO Greg Peters will replace Co-CEO Reed Hastings, with Hastings moving to executive chair.
The company is "pleased with [its] progress" regarding the recently introduced ad-supported subscription tier and expects a broad rollout of "paid sharing" later this quarter.
The company continues to target double-digit revenue growth, growing operating margins and generating positive cash flow.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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