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Netflix increases prices in the US, UK and France after exceeding key earnings targets.

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Source: Netflix


Netflix beat several key earnings targets in its Q3 report on Wednesday (October 18) and announced it was increasing some tier costs as of today in the US, UK and France. The ad-supported and Standard plans are unchanged. The ad-supported and Standard plans are unchanged.

Operating income reached $1.916bn, which was slightly ahead of its forecasts from Q2 and marked a 24.9% year-on-year gain over $1.533bn.

The company reported a 22.4% operating margin compared to 19.3% in Q 2022 and has forecast 20% for 2023, which is towards the high end of its previously forecast 18%-20% range.

Free cash flow climbed by approximately $1.4bn to $1.888bn and the company revised upwards its 2023 forecast from at least $5bn to approximately $6.5bn. Netflix’s primary financial metrics are revenue for growth and operating margin for profitability and its goal is to increase both and grow free cash flow.

Profits reached $1.677bn and diluted earnings per share was at $3.73 – both up on year-ago levels of $1.398bn and $3.10, respectively.

The company expects $8.7bn in revenue for Q4 with an approximately $200m “drag” due to the strengthening US dollar, and a net gain in global paid membership similar to Q3 plus or minus a few million. Global ARM (average revenue for each member) is expected remain flat due to price increases that have been limited over the last 18 months. The company has also launched title sponsorships, with Frito Lay Smartfood presenting a new season of

Love is Blind

. T-Mobile, Nespresso and others will all be presenting sponsors for The Netflix Cup, the company’s first live sports event streaming live on November 14.

Next year the streamer will launch an ad product for members whereby they can earn a “hero spot” which will make the next episode commercials-free, made possible by a particular brand.

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