Netflix 2022 Financials Announced

The important headings stated in the investor letter of Netflix, which announced its financials for the 4th quarter and full year for 2022 on January 19, 2023, are as follows:

– Q4 2022 revenue exceeded operating profit and membership growth projections. They continue to lead the industry in flow engagement, revenue and profit.

– They successfully launched their new, lower-priced ad-supported plan in November, and they're pretty happy with it. They added that as they achieved early results, they had much more to do.

- Achieved the top operating margin targets for the full year 2022 and expect to increase operating margins in 2023 versus 2022.  Operating income of $5.6bn, net cash of $2bn from operating activities and free cash flow of $1.6bn.

– In 2023, assuming there is no material fluctuation in FX, they expect a free cash flow of at least $3 bn.

– Ted Sarandos and Greg Peters are now co-CEOs of Netflix and Reed Hastings completes the processes with the President as Executive.