Netflix Recorded Sales of $ 5.47 Billion and Profit of $ 460 Million

According to Hanwha Investment & Securities on the 24th, Netflix recorded sales of $ 5.47 billion and operating profit of $ 460 million. This is an increase of 30.6% and 112.5%, respectively. Net profit increased 338.3% to $ 590 million.

Choi Bo-won, a researcher at Hanwha Investment & Securities, said, “After the launch of Apple TV + and Disney + in November, subscriber dropouts to competitive services were expected. “With only 423,000 subscribers in the United States, the number of net net subscribers recorded 8333,000,” he explained.

ARPU is also steadily rising. In the US and Canada, ARPU rose 1.1% QoQ and 17.2% YoY, while North America’s streaming revenue grew 23.6% YoY. In particular, streaming sales in EMEA (Europe, Middle East, Africa), Latin America, and APAC (Asia-Pacific) increased 42.5%, 31.6%, and 51.1%, respectively, compared to the same period last year.

Expectations for overseas growth remain intact. In the first quarter of this year, Altered Carbon, Kingdom, and Narcos are coming to a new season, and the number of overseas subscribers is expanding. Choi said, “We expect the short-term topline growth expectations to be valid as ARPU is rising in regions with a high sales portion.”

However, the competition for online video service  is expected to intensify from this year. Competitive services, HBO MAX and Peacock, are expected to launch this year. As a result, there is a possibility of US subscriber dropout. Choi said, “In the long run, there is a possibility of slowing overseas sales growth when competitors start overseas.”

 

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According to Hanwha Investment & Securities on the 24th, Netflix recorded sales of $ 5.47 billion and operating profit of $ 460 million. This is an increase of 30.6% and 112.5%, respectively. Net profit increased 338.3% to $ 590 million.

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