Item 2.02 Results of Operations and Financial Condition.
On January 21, 2020, Netflix, Inc. (the "Company") announced its financial
results for the quarter ended December 31, 2019. The Letter to Shareholders,
which is attached hereto as Exhibit 99.1 and is incorporated herein by
reference, includes reference to the non-GAAP financial measures of free cash
flow and EBITDA. Generally, a non-GAAP financial measure is a numerical measure
of a company's performance, financial position, or cash flows that either
excludes or includes amounts that are not normally excluded or included in the
most directly comparable measure calculated and presented in accordance with
generally accepted accounting principles in the United States. Management
believes that the non-GAAP measures of free cash flow and EBITDA are important
liquidity metrics because they measure, during a given period, the amount of
cash generated that is available to repay debt obligations, make investments and
for certain other activities or the amount of cash used in operations, including
investments in global streaming content. However, these non-GAAP measures should
be considered in addition to, not as a substitute for or superior to, net
income, operating income, diluted earnings per share and net cash provided by
operating activities, or other financial measures prepared in accordance with
GAAP. Reconciliation to the GAAP equivalent of these non-GAAP measures are
contained in tabular form in Exhibit 99.1.
The information in this report shall not be treated as "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed
incorporated by reference into any registration statement or other document
pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934,
except as expressly stated by specific reference in such filing.
Item 9.01 Financial Statement and Exhibits.
(d)  Exhibit

  99.1    Letter to Shareholders dated:    January 21, 2020

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