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Netflix Q2 2023 Earnings: UCAN Region Flat on Revenue
Beth KindigJUL 20, 20235 Min Read
Netflix’s report had some puts and takes. Positives: EPS was a beat at $3.29 versus $2.86 expected. The previous free cash flow guide for FY2023 was at $3.5 billion, and the full year guide is now raised to $5 billion this year. The company beat on paid net adds at 5.9 million compared to 2.1 million expected. Negatives: The blemish on the report is that the UCAN (United States and Canada) metrics show net paid adds of 1.17 million yet with flat revenue growth and flat average revenue per member (ARM) growth. Revenue in the region was at $3.54 billion compared to $3.59 billion in the year ago quarter. ARM of $16.00 compares to ARM of $15.95 a year ago.
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