NFLX FY 2011 Earnings Report — Netflix, Inc. Revenue & Financial Results | Market Cap Arena

Netflix, Inc.NFLX

FY 2011 Earnings

Reported February 10, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$3.2B	—	$2.2B	—	48.2%
Op. Income	$376M	—	$284M	—	32.6%
Gross Margin	36.3%	—	37.2%	—	-0.9pp
Net Margin	7.1%	—	7.4%	—	-0.4pp
EPS (Diluted)	$0.06	—	$0.04	—	45.2%
Free Cash Flow	$183M	—	$242M	—	-24.4%

Revenue Flow

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$2.0B
GROSS PROFIT	$1.2B
R&D Expenses	$259M
Selling & Marketing	$403M
General & Administrative	$118M
SG&A Expenses	$521M
Other Expenses	$0
Operating Expenses	$780M
Cost & Expenses	$2.8B
OPERATING INCOME	$376M
Interest Income	$3M
Interest Expense	$20M
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$360M
Income Tax Expense	$133M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$17.0K
BOTTOM LINE NET INCOME	$226M
D&A	$840M
EBIT	$380M
EBITDA	$1.2B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$2.0B
GROSS PROFIT	$1.2B
R&D Expenses	$259M
Selling & Marketing	$403M
General & Administrative	$118M
SG&A Expenses	$521M
Other Expenses	$0
Operating Expenses	$780M
Cost & Expenses	$2.8B
OPERATING INCOME	$376M
Interest Income	$3M
Interest Expense	$20M
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$360M
Income Tax Expense	$133M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$17.0K
BOTTOM LINE NET INCOME	$226M
D&A	$840M
EBIT	$380M
EBITDA	$1.2B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$226M
Depreciation & Amortization	$840M
Stock-Based Compensation	$62M
Deferred Income Tax	-$15M
Other Non-Cash Items	-$905M
Change in Working Capital	$110M
OPERATING CASH FLOW	$318M
Capital Expenditure	-$135M
Acquisitions (Net)	-$85M
Purchases of Investments	-$224M
Sales/Maturities of Investments	$89M
Other Investing Activities	$89M
NET CASH FROM INVESTING	-$266M
Net Debt Issuance	$196M
Common Stock Repurchased	-$200M
Common Dividends Paid	$0
Other Financing Activities	$46M
NET CASH FROM FINANCING	$262M
FREE CASH FLOW	$183M
Net Change in Cash	$314M

Balance Sheet

Item	Amount
Cash & Equivalents	$508M
Short-Term Investments	$290M
Net Receivables	$0
Inventory	$0
Other Current Assets	$977M
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$136M
Goodwill	$0
Intangible Assets	$1.0B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$55M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$3.1B
Account Payables	$87M
Short-Term Debt	$0
Deferred Revenue	$149M
Other Current Liabilities	$933M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$400M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$801M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$2.4B
Common Stock	$55.0K
Additional Paid-In Capital	$219M
Retained Earnings	$423M
Treasury Stock	$0
Accum. Other Comp. Income	$706.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$643M
Minority Interest	$0
TOTAL EQUITY	$643M
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$402M
Net Debt	-$106M