NFLX Q1 2024 Earnings — Income Statement Breakdown
For its Q1 2024 period (ending 2024-03-31), NFLX reported revenue of $9.4B, gross profit of $4.4B (46.9% gross margin), operating income of $2.6B, and net income of $2.3B (24.9% net margin). The flow of revenue into costs and profit is visualized below.
What changed
NFLX was profitable; revenue grew 6.1% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +6.1% | +148.7% | +14.3 pp |
Consensus estimate data is not available for this report.
NFLX Q1 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $9.4B | 100% |
| Cost of Revenue | −$5.0B | 53.1% |
| Gross Profit | $4.4B | 46.9% |
| Research & Development | −$702M | 7.5% |
| Selling, General & Administrative | −$1.1B | 11.3% |
| Operating Income | $2.6B | 28.1% |
| Interest Expense | −$173M | 1.8% |
| Other Income, net | $155M | 1.7% |
| Income Tax Expense | −$282M | 3.0% |
| Net Income | $2.3B | 24.9% |
Source: original SEC filing (filed 2024-04-18). Accession 0001065280-24-000127. Data normalized by EarningsFyi.