The above graph represents the Netflix net income by quarter, starting from fiscal Q1 2002 to the recently completed quarter. Netflix net profit in Q2 2020 increased a whopping 166% YoY to an all-time high of $720.2 million, globally.
One a quarterly basis, the company reported a 1.57% growth in its Q2’20 net profit.
Netflix Quarterly Net Income: History
|Source||Netflix Quarterly Reports, SEC Filings|
|Note||Netflix financial year starts from January 1st to December 31st|
One must note that Netflix achieved its first $100 million net profit milestone in Q1 2017. The total quarterly net profit increased an astonishing 544% YoY during the first quarter, to $178.22 million. However, it declined to $65.6 million in the following quarter.
Interestingly, Netflix global net income crossed the $500 million mark for the first time in the third quarter of 2019. The quarterly net income clocked $665.24 million in Q3 2019, with 65% YoY growth. However, the net income figure declined a notable 11.8% QoQ in Q4 2019, to $586.97 million, despite recording an astonishing 338.3% YoY.
About Netflix Inc.
Netflix Inc. (NASDAQ: NFLX) was founded on August 29, 1997, by Reed Hastings and Marc Randolph as a DVD-rental-by-mail firm. However, the company began its operations on April 14, 1998, by opening the world’s first online DVD rental store. For $19.95 a month, subscribers can rent as many DVDs as they want. The company slowly expanded its business by offering the streaming service in the US while retaining the DVD and Blu-ray rental service. In September 2010, the company began offering its streaming service to Canada, which later expanded to other international markets such as Latin America, the United Kingdom, Ireland, Australia, etc. Netflix is now available almost every corner of the world, except in mainland China (due to local restrictions), Syria, North Korea, and Crimea (due to US sanctions).
Netflix’s IPO (initial public offering) completed on May 29, 2002, selling 5.5 million shares of common stock at the price of $15.00 per share.
On January 22, 2018, Netflix’s market capitalization ballooned to $100 billion, becoming the largest digital media and entertainment company in the world.
Netflix is ranked #38 on the list of the World’s Most Valuable Brands by Forbes, with a brand value of $15.5 billion in 2019.
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