netflix inc nflx reported secondquarter fy22 revenue growth of 98 yearoveryear to 771 billion missing the consensus of 793 billion revenue growth was driven by an 8 yearoveryear increase in average streaming paid memberships and a 2 yearoveryear growth in arm the operating income improved to 197 billion from 196 billion a year ago the margin contracted by 240 bps to 251 eps declined to 353 from 375 in 1q21 beating the consensus of 290 according to benzinga pro global streaming paid partnership increased 67 yy to 22164 million global streaming paid net additions were down 200 thousand the suspension of service in russia and windingdown of all russian paid memberships resulted in a 07 million impact on paid net adds netflix’s net cash generated by operating activities was 923 million for the quarter compared to 777 million in 1q21 free cash flow was 802 million see also how netflix stock looks heading into q1 earnings print the company finished q1 with gross debt of 146 billion after repaying 700 million in senior notes it had cash of 60 billion and net debt was 86 billion at the end of the quarter equating to a 13x ltm leverage ratio the company stated that “in the nearterm though we’re not growing revenue as fast as we’d like covid clouded the picture by significantly increasing our growth in 2020 leading us to believe that most of our slowing growth in 2021 was due to the covid pull forward now we believe there are four main interrelated factors at work” 2q22 outlook netflix expects revenue of 805 billion versus a consensus of 821 billion operating margin of 215 and eps of 3 versus a consensus of 301 it expects global streaming paid partnership to increase 5 yy and global streaming paid net addition to be down 2 million nflx price action shares are trading lower by 2323 at 26763 during the postmarket session on tuesday