Shulou(Shulou.com)11/24 Report--

Beijing, January 20 (Xinhua)-- US video streaming service provider Netflix reported today that its revenue in the fourth quarter of fiscal 2022 was $7.852 billion (currently about 53.237 billion yuan), up 3.9% from a year earlier. Net profit was $55 million (currently about 373 million yuan), down 91% from $607 million in the same period last year (currently about 4.115 billion yuan).

Netflix's fourth-quarter revenue was basically in line with Wall Street analysts' expectations, while earnings per share fell short of expectations. In terms of performance outlook, Netflix's outlook for revenue in the first quarter of fiscal 2023 was slightly higher than expected, but its outlook for earnings per share was lower than expected.

At the same time, Netflix's growth in the number of paid users of its new streaming service slowed in the fourth quarter from a year earlier, but still far exceeded analysts' expectations. Affected by this, after the release of the results, Nai Frisbee shares rose nearly 7%.

Separately, Netflix announced that Reed Hastings would resign as co-CEO and become executive chairman, while Greg Peters, chief operating officer, was promoted to co-CEO with now-serving Ted Ted Sarandos.

Fourth quarter main results: net profit: Netflix's net profit for the quarter ended December 31 was $55 million, down 91% from $607 million a year earlier; diluted earnings per share were 12 cents per share, compared with $1.33 a year earlier. the performance fell short of analysts' expectations. On average, 32 analysts had expected Netflix to earn $0.45 a share in the fourth quarter, according to Yahoo Finance.

Revenue: Netflix's fourth-quarter revenue was $7.852 billion, up 3.9% from $7.709 billion a year earlier, largely in line with analysts' expectations. On average, 30 analysts had expected Netflix's fourth-quarter revenue to reach $7.85 billion, according to Yahoo Finance.

By region, Netflix's fourth-quarter revenue from streaming services in the United States and Canada was $3.595 billion, compared with $3.309 billion in the same period last year; revenue from Europe, the Middle East and Africa was $2.35 billion, compared with $2.523 billion in the same period last year; revenue from Latin America was $1.017 billion, compared with $964 million a year earlier Revenue from the Asia-Pacific region was $857 million, compared with $871 million in the same period last year.

Operating profit: Netflix's fourth-quarter operating profit was $550 million, compared with $632 million a year earlier; its operating margin was 7.0%, compared with 8.2% a year earlier.

Cash flow information: Netflix's net cash from business operations was $444 million in the fourth quarter, compared with $403 million for business operations in the same period last year; free cash flow was $332 million, compared with-$569 million in the same period last year.

Costs and expenses: Netflix's fourth-quarter revenue costs were $5.404 billion, compared with $5.24 billion in the same period last year; marketing expenses were $832 million, compared with $793 million in the same period last year; technology and research and development expenses were $674 million, compared with $647 million in the same period last year; general and administrative expenses were $392m, compared with $398m in the same period last year.

Paying subscribers: Netflix had 7.66 million paying users of its new streaming service in the fourth quarter, compared with 8.28 million in the same period last year, which slowed year-on-year in terms of growth, but exceeded analysts' expectations. Analysts had on average expected Netflix to reach 4.57 million paying users of its new streaming service in the fourth quarter, according to data provided by financial analyst StreetAccount. The total number of paying users of Netflix's global streaming service reached 230.75 million by the end of the fourth quarter, up 4.0 per cent from 221.84 million in the same period last year.

By region:-Netflix had a total of 74.3 million paying subscribers for streaming video services in the United States and Canada in the fourth quarter, compared with 75.22 million in the same period last year, and a net increase of 910000, compared with 1.19 million in the same period last year.

-Netflix had a total of 76.73 million paying subscribers for its streaming video service in Europe, the Middle East and Africa in the fourth quarter, compared with 74.04 million in the same period last year, with a net increase of 3.2 million, compared with 3.54 million in the same period last year.

-Netflix had a total of 41.7 million paying subscribers for its streaming video service in Latin America in the fourth quarter, compared with 39.96 million in the same period last year, with a net increase of 1.76 million, compared with 970000 in the same period last year.

-Netflix had a total of 38.02 million paying subscribers for its streaming video service in the Asia-Pacific region in the fourth quarter, compared with 32.63 million in the same period last year. The net increase in the number of paying users was 1.8 million, compared with 2.58 million in the same period last year.

In terms of average revenue per user, Netflix's average revenue per user by region in the fourth quarter is as follows:

-average revenue per user of streaming video services in the United States and Canada was $16.23, up 10% from $14.78 in the same period last year, and 10% year-on-year growth excluding exchange rate changes

-average revenue per user of streaming video services in Europe, the Middle East and Africa was $10.43, down 10% from $11.64 in the same period last year, with an increase of 5% excluding exchange rate changes

-average revenue per user of streaming video services in Latin America was $8.30, up 2% from $8.14 in the same period last year, and 7% year-on-year excluding exchange rate changes

-the average revenue per user of streaming video services in the Asia-Pacific region was US $7.69, down 17% from US $9.26 in the same period last year, and 4% year-on-year excluding exchange rate changes.

Main results for fiscal year 2022: for the entire fiscal year 2022, Netflix's revenue was $31.616 billion, up 6.5% from a year earlier, which was basically in line with analysts' expectations; net profit was $4.492 billion, compared with $5.116 billion in fiscal year 2021; diluted earnings per share were $9.95, compared with $11.24 in fiscal 2021, which failed to meet analysts' expectations.

According to data provided by Yahoo Finance, 37 analysts had expected Netflix's annual revenue to reach $31.62 billion, while 34 analysts had expected Netflix's annual earnings per share to reach $10.37.

Netflix's operating profit was $5.633 billion in fiscal year 2022 and $6.195 billion in fiscal year 2021; operating profit margin was 17.8% and 20.9% in fiscal year 2021. Excluding restructuring expenses, Netflix's adjusted operating profit was $6.531 billion in fiscal 2022 and $6.517 billion in fiscal 2021; adjusted operating profit margin was 20.0% and 21.6% in fiscal year 2021.

Performance outlook: Netflix expects revenue in the first quarter of fiscal 2023 to reach $8.172 billion, up 3.9% from a year earlier, slightly exceeding analysts' expectations; operating profit will reach $1.625 billion and operating profit margin will reach 19.9%; and net profit will reach $1.275 billion. Earnings per share will reach $2.82, which will also fall short of analysts' expectations. On average, 20 analysts expect Netflix's first-quarter revenue to reach $8.15 billion, while 24 analysts expect Netflix's first-quarter earnings per share to reach $2.97, according to Yahoo Finance.

Share price movements: Netflix shares fell $10.55, or 3.23%, to $315.78 in regular trading on the Nasdaq stock market. In after-hours trading as of 06:33 EDT on Thursday (07:33 Beijing time on Friday), Netflix shares jumped $21.77, or 6.89 per cent, to $337.55. As of Thursday's close, Netflix's highest price in the past 52 weeks was $526.64 and the lowest price was $162.71.

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