Netflix posts 19% YoY revenue growth ($7.3 billion) in FYQ2'21

It added 209 million global streaming paid memberships at the end of the quarter

e4m by exchange4media Staff
Updated: Jul 21, 2021 1:08 PM
netflix

Streaming giant Netflix has released its financial results for FYQ2 2021, with revenue standing at $7.3 billion. It posted a 19% growth from its FYQ2'20 numbers.

Operating income rose 36 per cent over the year to $1.8 billion. The company had 209 million global streaming paid memberships at the end of the quarter, slightly ahead of its forecast.

" COVID has created some lumpiness in our membership growth (higher growth in 2020, slower

growth this year), which is working its way through," Netflix said in its official communication

Operating income is $1.8 billion and operating margin is 25.5%. Net income for the company stands at $1.3 billion.

" Operating margin of 25.2% expanded 3 percentage points compared with the year-ago quarter. EPS of $2.97 vs. $1.59 a year ago included a $63m non-cash unrealized loss from FX remeasurement on our Euro denominated debt," said Netflix.

The company has forecast revenue of $ 7.4 billion for its coming quarter (Q3'21) and a 16.2% YoY growth. It aims to increase the number of paid memberships to 212 million for the next quarter.

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