Netflix (NFLX) has shared its Q4 2022 earnings results and included in the report are details showing the company missing EPS estimates with revenue that fell in line with previous expectations. In the report, Netflix reflects that revenue was slightly above its beginning-of-quarter projections with year over year revenue growth of 2 percent in Q4 driven by a 4 percent increase in paid memberships.
Meanwhile, EPS in Q4 2022 was $0.12 as opposed to $1.33 in Q4 2021, with EPS falling below Netflix’s forecast of $0.36 due to “a $462M non-cash unrealized loss from the F/X remeasurement on our Euro denominated debt as a result of the depreciation of the US dollar vs. the Euro during Q4’22.”
In its forecast, Netflix asserts that revenue remains in its primary top line metric “particularly as we develop additional revenue streams where membership is just one component of our growth (like advertising and paid sharing).” Additionally, Netflix forecasts revenue growth of 4 percent in Q1 2023 (8 percent on a F/X neutral basis).
For more on this, be sure to read through the full Q4 2022 earnings report from Netflix. And for more Netflix news, also check out some of our previous coverage including how Netflix added 7.66 million subscribers in Q4 2022 beating previous expectations, and how Netflix Co-CEO and Cofounder Reed Hastings is leaving his previous role and becoming a chairman.