NFLX FY 2013 Earnings Report — Netflix, Inc. Revenue & Financial Results | Market Cap Arena

Netflix, Inc.NFLX

FY 2013 Earnings

Reported January 31, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$4.4B	—	$3.6B	—	21.2%
Op. Income	$228M	—	$50M	—	356.8%
Gross Margin	29.5%	—	27.2%	—	2.3pp
Net Margin	2.6%	—	0.5%	—	2.1pp
EPS (Diluted)	$0.03	—	$0.00	—	525.0%
Free Cash Flow	-$22M	—	-$67M	—	66.8%

Revenue Flow

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$3.1B
GROSS PROFIT	$1.3B
R&D Expenses	$379M
Selling & Marketing	$504M
General & Administrative	$180M
SG&A Expenses	$684M
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$4.1B
OPERATING INCOME	$228M
Interest Income	$0
Interest Expense	$32M
Other Income/Expenses	-$57M
INCOME BEFORE TAX	$171M
Income Tax Expense	$59M
Net Income from Continuing Ops	$112M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$112M
Net Income Deductions	-$49.0K
BOTTOM LINE NET INCOME	$112M
D&A	$2.2B
EBIT	$203M
EBITDA	$2.4B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$3.1B
GROSS PROFIT	$1.3B
R&D Expenses	$379M
Selling & Marketing	$504M
General & Administrative	$180M
SG&A Expenses	$684M
Other Expenses	$0
Operating Expenses	$1.1B
Cost & Expenses	$4.1B
OPERATING INCOME	$228M
Interest Income	$0
Interest Expense	$32M
Other Income/Expenses	-$57M
INCOME BEFORE TAX	$171M
Income Tax Expense	$59M
Net Income from Continuing Ops	$112M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$112M
Net Income Deductions	-$49.0K
BOTTOM LINE NET INCOME	$112M
D&A	$2.2B
EBIT	$203M
EBITDA	$2.4B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$112M
Depreciation & Amortization	$2.2B
Stock-Based Compensation	$73M
Deferred Income Tax	-$22M
Other Non-Cash Items	-$2.4B
Change in Working Capital	$120M
OPERATING CASH FLOW	$98M
Capital Expenditure	-$120M
Acquisitions (Net)	-$66M
Purchases of Investments	-$550M
Sales/Maturities of Investments	$408M
Other Investing Activities	$72M
NET CASH FROM INVESTING	-$256M
Net Debt Issuance	$279M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$197M
NET CASH FROM FINANCING	$476M
FREE CASH FLOW	-$22M
Net Change in Cash	$315M

Balance Sheet

Item	Amount
Cash & Equivalents	$605M
Short-Term Investments	$595M
Net Receivables	$0
Inventory	$0
Other Current Assets	$1.9B
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$134M
Goodwill	$0
Intangible Assets	$2.1B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$129M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$5.4B
Account Payables	$108M
Short-Term Debt	$0
Deferred Revenue	$216M
Other Current Liabilities	$1.8B
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$500M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$4.1B
Common Stock	$60.0K
Additional Paid-In Capital	$777M
Retained Earnings	$552M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$5.4B
Total Debt	$500M
Net Debt	-$105M