In Q1 2023, Netflix’s revenue was $8,161,503,000, while the cost of revenues was $4,803,625,000. This indicates that the company’s revenue exceeded its cost of revenues, resulting in a gross profit.
Comparing Q1 2023 to Q4 2022, revenue increased from $7,852,053,000 to $8,161,503,000, while the cost of revenues decreased from $5,404,160,000 to $4,803,625,000. This suggests an improvement in the company’s ability to generate revenue relative to its costs.
Technology and Development Costs
Technology and development costs for Q1 2023 were $687,275,000, showing a slight increase compared to Q4 2022 costs of $673,926,000.
The increase in technology and development costs may indicate that Netflix is continuing to invest in its technology infrastructure and platform development to enhance user experience and support growth.
Evolution of Net Income
Netflix’s net income for Q1 2023 was $1,305,120,000, which is significantly higher than the net income of $55,284,000 reported in Q4 2022.
The substantial increase in net income from Q4 2022 to Q1 2023 suggests that the company experienced strong financialperformance during this period.
Over the past year, net income has fluctuated, with Q1 2022 reporting $1,597,447,000, Q2 2022 reporting $1,440,951,000, Q3 2022 reporting $1,398,242,000, and Q4 2022 reporting $55,284,000. Despite these fluctuations, Q1 2023 marks a notable recovery in net income.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
