Netflix (NFLX) FY2010 results: revenue $2.2 billion, up 29.5% on the year
Netflix Inc. (NFLX) reported revenue of $2.2 billion for fiscal 2010, the year ended 31 December 2010, up 29.5% on the year before. Net income was $161 million, up 38.8%, and diluted earnings per share $0.04. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2011.
Revenue
$2.2 billion
+29.5% on the year
FY2007FY2010
Operating margin
13.1%
11.5% a year earlier
FY2007FY2010
Net income
$161 million
+38.8% on the year
FY2007FY2010
Diluted EPS
$0.04
+49.5% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
2,163
1,670
1,365
+29.5%
Cost of revenue
1,357
1,079
910
+25.8%
Gross profit
805
591
454
+36.3%
Gross margin
37.2%
35.4%
33.3%
Research and development
163
115
89.9
+42.6%
Operating income
284
192
122
+47.8%
Operating margin
13.1%
11.5%
8.9%
Interest expense
19.6
6.5
2.5
+203.2%
Pre-tax income
268
192
132
+39.3%
Income tax
107
76.3
48.5
+40.0%
Effective tax rate
39.9%
39.7%
36.9%
Net income
161
116
83.0
+38.8%
Net margin
7.4%
6.9%
6.1%
Diluted EPS
$0.04
$0.03
$0.02
+49.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
276
325
284
-15.0%
Capital expenditure
33.8
45.9
43.8
-26.3%
Free cash flow
243
279
240
-13.1%
Free cash flow margin
11.2%
16.7%
17.6%
Cash from investing
-116
-246
-145
Cash from financing
-100
-84.6
-177
Depreciation and amortisation
38.1
38.0
32.5
+0.1%
Share-based compensation
28.0
12.6
12.3
+121.9%
Buybacks
210
324
200
-35.2%
Diluted shares, weighted
3,801m
4,089m
4,399m
-7.0%
Shares outstanding at period end
3,695m
3,741m
4,120m
-1.2%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
290
199
347
+45.7%
Debt
200
200
0.0
0.0%
Other liabilities
492
281
268
+75.3%
Total liabilities and equity
982
680
615
+44.5%
Fixed assets
129
132
125
-2.3%
Investments
156
186
157
-16.2%
Cash and equivalents
194
134
140
+44.9%
Other assets
503
228
193
+120.8%
Total assets
982
680
615
+44.5%
10-K for the year ended 31 December 2010, filed 18 February 2011: the filing.