SEES Q4 TOTAL EARNINGS PER SHARE $0.23.QTRLY TOTAL REVENUE $4 BILLION VERSUS $2.99 BILLION.SEES Q4 TOTAL REVENUE $4.2 BILLION.QTRLY OPERATING MARGIN EXPANDED 500 BPS YEAR OVER YEAR TO 12 PERCENT.6.96 MILLION TOTAL STREAMING NET ADDITIONS IN QUARTER VERSUS CO’S FORECAST OF 5 MILLION.SEES 9.40 MILLION TOTAL STREAMING NET ADDITIONS IN Q4.5.87 MILLION INTERNATIONAL STREAMING NET ADDITIONS IN QUARTER VERSUS CO’S FORECAST OF 4.35 MILLION.SEES 7.60 MILLION INTERNATIONAL STREAMING NET ADDITIONS IN Q4.1.09 MILLION U.S. STREAMING NET ADDITIONS IN QUARTER VERSUS CO’S FORECAST OF 0.65 MILLION.SEES 1.80 MILLION U.S. STREAMING NET ADDITIONS IN Q4.SEES Q4 TOTAL STREAMING REVENUE $4,114 MILLION.”THIS QUARTER, WE UNDER-FORECASTED MEMBERSHIPS”.ANTICIPATE THAT FCF WILL BE CLOSER TO -$3 BILLION THAN TO -$4 BILLION FOR THE FULL YEAR 2018.EXPECT CO’S QUARTERLY FCF DEFICIT WILL INCREASE SEQUENTIALLY FROM Q3 TO Q4 AS CO’S YEAR TO DATE FCF IS -$1.7 BILLION.CURRENTLY SEE NEXT YEAR’S NEGATIVE FCF AS ROUGHLY FLAT WITH THIS YEAR.NETFLIX SAYS “RECOGNIZE WE ARE MAKING HUGE CASH INVESTMENTS IN CONTENT”; HAVE SAME “HIGH” CONFIDENCE IN UNDERLYING ECONOMICS AS CASH INVESTMENTS IN PAST.NEXT QUARTER, EXPECT TO RECLASSIFY SOME PERSONNEL COSTS FROM G&A TO CONTENT AND MARKETING, AND FROM TECHNOLOGY & DEVELOPMENT TO OTHER COST OF REVENUES.
Estimates
