Netflix stock rises on record scale and steady growth
Published on 07/21/2026 at 09:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Netflix (US64110L1061) remains a large-cap US streaming name after 2024 revenue reached $39.0 billion and operating income climbed to $10.4 billion, according to the company’s 2024 shareholder letter and annual report. Paid memberships also topped 300 million by year-end 2024, giving the business a scale advantage that still shapes how investors value Netflix stock.
300 million memberships
The most important operating number is the subscriber base: Netflix ended 2024 with more than 300 million paid memberships, up from 260.28 million at the end of 2023. That 39.7 million increase came alongside a 16.0% rise in revenue, which made 2024 one of the company’s strongest top-line years in recent periods.
Free cash flow also stayed in view. Netflix reported $6.9 billion in free cash flow for 2024, after $6.9 billion in 2023, showing that the content model continued to convert earnings into cash at a large scale.
Profit expanded in 2024
Operating income rose from $6.9 billion in 2023 to $10.4 billion in 2024, while operating margin widened from 18.4% to 27.2%. Net income increased to $8.7 billion in 2024 from $5.4 billion in 2023, and diluted EPS moved to $20.16 from $12.03 over the same period.
That margin improvement matters because Netflix stock has long traded on whether growth can coexist with profitability. The 2024 figures showed both, with revenue still growing and profits expanding faster than sales.
Netflix 2024 annual report and shareholder letter
The annual report and shareholder letter contain the full 2024 revenue, margin, profit, and cash flow figures used in this article.
Revenue up 16.0%
Revenue rose from $33.7 billion in 2023 to $39.0 billion in 2024, a gain of 16.0%. The company also closed 2024 with 301.6 million paid memberships, compared with 260.28 million a year earlier, which underlines how both scale and monetization improved together.
For investors, the combination of 16.0% revenue growth, 27.2% operating margin, and $6.9 billion in free cash flow explains why Netflix stock continues to command premium attention in the US media sector.
Streaming product at scale
Netflix’s core product is its subscription streaming service, which spans films, series, documentaries, and live programming across a global paid base. The company’s 2024 figures show that the subscription engine remains the main driver of revenue, profit, and cash generation.
The operating details matter more than any single show or release because the business is now judged on the consistency of membership growth, margin expansion, and cash conversion rather than on one-off content headlines.
Market value and listing
Netflix stock trades on the Nasdaq under the ticker NASDAQ: NFLX. The company’s market capitalization stood near $400 billion in 2024 and placed it among the largest entertainment and internet platforms in the US market, where scale and profitability remain central valuation drivers.
As of 21 July 2026, the latest report-backed figures still define the investment case: 301.6 million paid memberships in 2024, $39.0 billion in revenue, and $10.4 billion in operating income.
Netflix at a glance
- Company: Netflix, Inc.
- ISIN: US64110L1061
- Ticker: NASDAQ: NFLX
- Trading venue: Nasdaq
- Sector / Industry: Communication Services / Movies & Entertainment
- Index membership: Nasdaq 100
Disclaimer regarding our articles: No investment advice, no buy or sell recommendation. Information on prices, companies, and markets is provided without guarantee; changes are possible at any time. Stock market transactions can lead to substantial losses. Our articles are created and reviewed in whole or in part automatically with the support of AI.
