Netflix Q1 Report 2024

• We’re off to a good start in 2024. Compared to Q1’23, our revenue was up 15%, our operating income grew by 54% and our operating margin rose by seven percentage points to 28%. • For FY24, we forecast revenue growth of 13% to 15%. We’re raising our FY24 operating margin forecast to 25%, based on F/X rates as of January ’24, up from 24%.

• To sustain healthy growth long term, we must continue to:

• Improve the variety and quality of our entertainment – with more, great TV shows and movies, a stronger slate of games and must-watch live programming;

• Innovate in our product and marketing – so fans can more easily discover, immerse themselves in and talk about the stories they love, fueling fandom and the Netflix Effect; • Tap into additional revenue and profit pools – in particular scaling ads to become a more meaningful contributor to our business in ’25 and beyond.

We have built a hard to replicate combination of a strong slate, superior recommendations, broad reach and intense fandom, which drives healthy engagement on Netflix. Improvement in these key areas is the best way to delight our members and continue to grow our business.