Sector: Communication Services|Industry: Entertainment|Market Cap: $392.35B|Employees: 13K
Netflix is a leading global entertainment service with over 260 million paid memberships. Its primary revenue stream is monthly membership fees for streaming TV series, films, and games across various genres and languages. Netflix's competitive advantages include its extensive content library, global reach, and personalized recommendations, allowing it to maintain a strong market position.
Total revenues reached $9,559,310,000 for Q2 2024, a 17% increase compared to Q2 2023. This growth is driven by a combination of increased average paying memberships and price increases.
Operating income for Q2 2024 was $2,602,837,000, a significant increase of 42% compared to the same period in 2023. This reflects improved profitability.
Operating margin increased to 27% in Q2 2024, exceeding the previous year's 22%. This improvement is attributed to revenue growth outpacing cost increases.