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Netflix Inc has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $39 billion, a 16% increase from the previous year, driven primarily by growth in streaming memberships and price increases.
Operating income for the year was $10.4 billion, up from $7 billion in 2023, resulting in an operating margin of 27%, a six percentage point increase from the prior year.
Netflix reported net income of $8.7 billion, a significant increase from $5.4 billion in 2023. The effective tax rate for the year was 13%.
The company ended the year with approximately 302 million paid memberships globally, with significant growth in the United States, Canada, and Asia-Pacific regions.
Netflix's content obligations totaled $23.2 billion as of December 31, 2024, with $4.4 billion recognized as current liabilities.
The company reported cash, cash equivalents, and short-term investments of $9.6 billion, an increase of $2.4 billion from the previous year.
Netflix's total debt increased to $15.7 billion, with $1.8 billion classified as short-term debt.
The company repurchased 9.9 million shares of common stock for $6.2 billion during the year, with $17.1 billion remaining under its repurchase authorization.
Netflix continues to focus on expanding its global content offerings, with significant investments in original programming and international markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NETFLIX INC annual 10-K report dated January 27, 2025. To report an error, please email earnings@qz.com.