Netflix CFO says company has 'long runway of margin growth' as streamer hikes prices

"We don't think we're anywhere near a margin ceiling. We've got a long runway of margin growth," Netflix CFO Spencer Neumann said on the company's third-quarter earnings call on Wednesday.

"We have a very scalable business model," Neumann said. "It's a global network at scale that has, in many ways, not been seen with legacy entertainment networks. So we think we've got a long way to go." Netflix said its operating margins have more room to run after the company beat earnings expectations on both the top and bottom lines and reported a surge in subscribers.

"While we mostly paused price increases as we rolled out paid sharing, our overall approach remains the same — a range of prices and plans to meet a wide range of needs, and as we deliver more value to our members, we occasionally ask them to pay a bit more," the company said in its shareholder letter.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PG, Tesla, and Netflix report earnings, President Biden in Israel: Yahoo Finance LiveIt's another huge day on Wall Street today where investors will hear from big names including Tesla (TSLA) and Netflix (NFLX) after the bell.This morning...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Earnings preview: Tesla, Netflix, big banks among reports to watchEarnings season is in full effect, with big banks JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) reporting solid results. Goldman Sachs (GS) is...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Netflix's password crackdown, ad tier in focus for Q3 earningsNetflix (NFLX) will be reporting its third-quarter results on Wednesday, October 18, with investors watching growth and guidance closely after its password...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »