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Netflix Inc (NFLX.OQ)

NFLX.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Netflix Sees 4.35 Mln International Streaming Net Adds In Q3
Monday, 16 Jul 2018 

July 16 (Reuters) - Netflix Inc ::SAYS SEES 0.65 MILLION U.S. STREAMING NET ADDITIONS IN Q3.SAYS SEES 5 MILLION TOTAL STREAMING NET ADDITIONS IN Q3.SAYS ANTICIPATE WE’LL CONTINUE TO FINANCE CAPITAL NEEDS IN HIGH YIELD MARKET.SAYS SEES Q3 TOTAL STREAMING REVENUE $3,900 MILLION.SAYS "WE HAD A STRONG BUT NOT STELLAR Q2, ENDING WITH 130 MILLION MEMBERSHIPS".SAYS SEES 4.35 MILLION INTERNATIONAL STREAMING NET ADDITIONS IN Q3.SAYS ANTICIPATE MORE COMPETITION FROM COMBINED AT&T/WARNER MEDIA, FROM COMBINED FOX/DISNEY OR FOX/COMCAST AS WELL AS FROM INTERNATIONAL PLAYERS.SAYS CONTINUE TO ANTICIPATE FREE CASH FLOW OF NEGATIVE $3 BILLION TO NEGATIVE $4 BILLION FOR THE FULL YEAR 2018.SAYS CONTINUE TO EXPECT STEADY GROWTH IN OPERATING MARGIN IN 2019 AND BEYOND.SAYS "THIS Q2, WE OVER-FORECASTED GLOBAL NET ADDITIONS WHICH AMOUNTED TO 5.2M VERSUS. A FORECAST OF 6.2M".SAYS FOR FY 2018, CURRENT F/X RATES HAVE PUSHED EXPECTATIONS ON OPERATING MARGIN TO BE NEAR THE LOWER END OF 10-11% TARGET RANGE.SAYS CURRENCY HAD $65 MILLION POSITIVE IMPACT ON INTERNATIONAL REVENUE, "BUT THIS POSITIVE IMPACT WAS SMALLER THAN WE HAD FORECAST 90 DAYS AGO".SAYS "WE’LL MOVE MORE OF OUR OPERATING COSTS TO NON-USD TO PROVIDE A LITTLE MORE NATURAL HEDGING".SAYS WILL TEND TO OUTPERFORM NEAR TERM OPERATING MARGIN TARGETS ON DOLLAR WEAKNESS AND UNDERPERFORM ON DOLLAR STRENGTH.SAYS "WE’LL STILL CONTINUE TO HAVE MUCH MORE EXPENSE IN USD THAN REVENUE".  Full Article

Netflix Spokesperson Confirms That Chief Communications Officer Jonathan Friedland Is Leaving Netflix
Friday, 22 Jun 2018 

June 22 (Reuters) - Netflix Inc ::NETFLIX SPOKESPERSON - CAN CONFIRM THAT CHIEF COMMUNICATIONS OFFICER JONATHAN FRIEDLAND IS LEAVING NETFLIX.  Full Article

Netflix's Friedland tweets "was insensitive in speaking to my team about words that offend in comedy"
Friday, 22 Jun 2018 

June 22 (Reuters) - :NETFLIX CHIEF COMMUNICATIONS OFFICER JONATHAN FRIEDLAND SAYS "I’M LEAVING NETFLIX AFTER SEVEN YEARS" - TWEET.NETFLIX'S FRIEDLAND TWEETS "LEADERS HAVE TO BE BEYOND REPROACH IN THE EXAMPLE WE SET AND UNFORTUNATELY I FELL SHORT OF THAT STANDARD".NETFLIX'S CHIEF COMMUNICATIONS OFFICER JONATHAN FRIEDLAND TWEETS "I WAS INSENSITIVE IN SPEAKING TO MY TEAM ABOUT WORDS THAT OFFEND IN COMEDY".  Full Article

Spain's Telefonica To Integrate Netflix Into Its TV And Video Platforms In Latin America
Thursday, 24 May 2018 

May 24 (Reuters) - Telefonica ::TO INTEGRATE NETFLIX INTO ITS TV AND VIDEO PLATFORMS IN LATIN AMERICA.PLANS TO LAUNCH NETFLIX INTEGRATION IN SPAIN AT THE END OF 2018.  Full Article

Tiger Global Management Reports Stake In Iqiyi, Sea Ltd
Tuesday, 15 May 2018 

May 16 (Reuters) - Tiger Global Management LLC::TIGER GLOBAL MANAGEMENT REPORTS STAKE OF 1 MILLION SPONSORED ADS IN IQIYI INC.TIGER GLOBAL MANAGEMENT LLC UPS SHARE STAKE IN NETFLIX INC BY 23.0 PERCENT TO 2.2 MILLION SHARES.TIGER GLOBAL MANAGEMENT LLC REPORTS STAKE OF 2.3 MILLION ADRS IN SEA LTD.TIGER GLOBAL MANAGEMENT - CHANGE IN HOLDINGS ARE AS OF MARCH 31, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF DEC 31, 2017.  Full Article

Netflix Prices $1.9 BLn Offering Of Senior Notes
Tuesday, 24 Apr 2018 

April 23 (Reuters) - Netflix Inc ::NETFLIX PRICES $1.9 BILLION OFFERING OF SENIOR NOTES.PRICING OF AN OFFERING OF $1.9 BILLION AGGREGATE PRINCIPAL AMOUNT OF 5.875% SENIOR NOTES DUE 2028.OFFERING OF NOTES WAS UPSIZED FROM AN ORIGINALLY ANNOUNCED AGGREGATE PRINCIPAL AMOUNT OF $1.5 BILLION.  Full Article

Netflix Announces Proposed $1.5 Billion Offering Of Senior Notes
Monday, 23 Apr 2018 

April 23 (Reuters) - Netflix Inc ::NETFLIX ANNOUNCES PROPOSED $1.5 BILLION OFFERING OF SENIOR NOTES.NETFLIX INC - INTENDS TO USE NET PROCEEDS FROM OFFERING FOR GENERAL CORPORATE PURPOSES, WHICH MAY INCLUDE CONTENT ACQUISITIONS, AMONG OTHERS.NETFLIX - INTENDS TO USE NET PROCEEDS FROM OFFERING FOR GENERAL CORPORATE PURPOSES, WHICH MAY INCLUDE PRODUCTION & DEVELOPMENT, CAPITAL EXPENDITURES.  Full Article

Netflix Says CEO Reed Hastings' FY 2017 Total Compensation Was $24.4 Mln
Monday, 23 Apr 2018 

April 23 (Reuters) - Netflix Inc ::NETFLIX INC SAYS CEO REED HASTINGS' FY 2017 TOTAL COMPENSATION WAS $24.4 MILLION VERSUS $23.2 MILLION IN FY 2016 - SEC FILING.NETFLIX INC SAYS CHIEF CONTENT OFFICER TED SARANDOS' FY 2017 TOTAL COMPENSATION WAS $22.4 MILLION VERSUS $18.9 MILLION IN FY 2016.NETFLIX INC SAYS CFO DAVID WELLS' FY 2017 TOTAL COMPENSATION WAS $5.2 MILLION VERSUS $6.1 MILLION IN FY 2016.  Full Article

Netflix Sees Q2 Earnings Per Share of $0.79
Monday, 16 Apr 2018 

April 16 (Reuters) - Netflix Inc ::SEES Q2 EARNINGS PER SHARE $0.79.SEES Q2 REVENUE $3,934 MILLION.Q2 EARNINGS PER SHARE VIEW $0.65, REVENUE VIEW $3.89 BILLION -- THOMSON REUTERS I/B/E/S.SEES 6.2 MILLION TOTAL STREAMING NET ADDITIONS IN Q2.SEES 5 MILLION INTERNATIONAL STREAMING NET ADDITIONS IN Q2 2018.SEES 1.20 MILLION U.S. STREAMING NET ADDITIONS IN Q2.SEES Q2 TOTAL STREAMING REVENUE $3,841 MILLION.QUARTERLY EARNINGS PER SHARE INCLUDED $41 MILLION NON-CASH UNREALIZED LOSS FROM F/X REMEASUREMENT ON EUROBOND."WE HAVE ABOUT $2.6 BILLION IN CASH AND WE WILL CONTINUE TO RAISE DEBT AS NEEDED TO FUND OUR INCREASE IN ORIGINAL CONTENT".CONTINUE TO FORECAST FREE CASH FLOW OF -$3 BILLION TO -$4 BILLION IN 2018, AND TO BE FREE CASH FLOW NEGATIVE FOR SEVERAL MORE YEARS.SAYS INTERNATIONAL SEGMENT NOW ACCOUNTS FOR 50 PERCENT OF REVENUE AND 55% OF MEMBERSHIPS.SAYS Q2 OPERATING MARGIN IS EXPECTED TO BE 12 PERCENT.FREE CASH FLOW IN Q1 WAS NEGATIVE $287 MILLION; LESS NEGATIVE THAN CO EXPECTED DUE TO CONTENT PAYMENT TIMING DIFFERENCES.NETFLIX SAYS WILL HAVE $7.5 BILLION - $8 BILLION OF CONTENT EXPENSE (ON A P&L BASIS) IN 2018 ACROSS A WIDE VARIETY OF FORMATS.SAYS NOW TARGETING A FULL YEAR OPERATING MARGIN OF 10 PERCENT - 11 PERCENT.SAYS CONTINUE TO ANTICIPATE CONTENT AND MARKETING SPEND TO BE WEIGHTED TOWARDS THE SECOND HALF OF 2018.  Full Article

Comcast And Netflix Expand Partnership Following Successful Xfinity X1 Integration
Friday, 13 Apr 2018 

April 13 (Reuters) - Comcast Corp - Netflix ::COMCAST AND NETFLIX EXPAND PARTNERSHIP FOLLOWING SUCCESSFUL XFINITY X1 INTEGRATION.COMCAST TO OFFER NEW AND INNOVATIVE XFINITY PACKAGES INCLUDING NETFLIX SUBSCRIPTION.WILL LAUNCH A VARIETY OF INITIAL OFFERS THIS MONTH THAT INCLUDE A NETFLIX SUBSCRIPTION.RELATED BILLING WILL BE HANDLED DIRECTLY BY COMCAST.UNDER DEAL OFFERS & AVAILABILITY WILL VARY BY MARKET AND BE OPEN TO NEW AND EXISTING CUSTOMERS.  Full Article

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Firmer U.S. dollar boosts corporate interest in currency hedging

By Saqib Iqbal Ahmed, Jessica DiNapoli and Caroline Valetkevitch