MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Netflix Beats On Op Income & Subs; Indicates Departure From Debt & Cash Policy

TECHNOLOGY


  • Q1 revenue was 1% ahead of BBG consensus at +15% YoY (vs. +13% guidance) while operating income was 8% ahead at +54% YoY (vs. +41% guidance). Subscriber additions were far ahead of expectations at +9.3mn against BBG consensus of +4.8mn.
  • Q2 revenues seen at +16% YoY, in line with consensus. FY24 op margin guidance increased to 25% from 24% (against 24% BBG consensus). FY revenue seen at +13-15% against +14% BBG consensus.
  • FCF in line with Q123 with FY FCF guidance confirmed. RCF increased from USD 1bn to USD 3bn. Commentary outlines expectation to refinance upcoming maturities; no expectation to lever up for buybacks, instead focusing on BS flexibility though management comments indicate a departure from anchors of USD 10-15bn gross debt and cash equivalent to two months of revenue though still expect to hold several billion of cash.
  • Subscription and average revenue figures won’t be released from Q125 which may reduce visibility; typically the most closely watched metrics.
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.