NFLX Netflix, Inc.

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Netflix Beat Expectations, Guides Below Estimates

Tuesday, October 20, 2026 · 4:01 PM ET

Netflix (NFLX) reported earnings of $0.87 per share on revenue of $12.87 billion for the third quarter ended September 2026. The consensus earnings estimate was $0.82 per share on revenue of $12.87 billion. The Earnings Whisper number was $0.84 per share. The company beat expectations by 3.57% while revenue grew 11.85% on a year-over-year basis.

The company said it expects fourth quarter earnings of approximately $0.67 per share on revenue of approximately $13.44 billion. The current consensus earnings estimate is $0.73 per share on revenue of $13.54 billion for the quarter ending December 31, 2026.

Netflix is the world's leading streaming entertainment service with 222 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages.

Earnings Whisper Grade
Power Rating
Reported Earnings
$0.87
Earnings Whisper®
$0.84
Consensus Estimate
$0.82
Earnings Surprise
Earnings Growth48.2 %
Reported Revenue
$12.87B
Revenue Estimate
$12.87B
Revenue Surprise
Revenue Growth11.8 %

*Reported earnings and revenue figures shown above, and any guidance given, are preliminary and may be updated upon further review.*

Earnings Conference Call Summary

Netflix Third Quarter 2026 Earnings

Tuesday, October 20, 2026 · 4:01 PM ET NFLX

  • We delivered our Q3 forecast and expect to deliver on our full year 2026 guidance.
    • Q3 revenue grew 12% year over year (11% on a F/X neutral basis ) to $12.9B, consistent with our forecast. Operating margin was 34.6%, up from 28.2% in Q3’25 and ahead of our forecast primarily due to the timing of expenses.
    • For 2026, we expect revenue of $51.1B (+13% year over year) and an operating margin of 31.5%.
  • The core of our service is delivering differentiated, exclusive, professionally produced series, films and live events. Q3 highlights include The Last House, Facing El Chapo, Death of the Pastor’s Wife, our NFL Game from Melbourne, and a very successful slate in India.
  • We’ll continue to expand our entertainment offering through licensing and new ways to bring more third-party content to our service, like our TF1 partnership in France. Our audience, which is approaching one billion people, and our best-in-class product capabilities, make us great partners for studios, networks and creative talent.
  • Member response to our 2026 price changes is consistent with prior adjustments and our expectations, an indicator that our engagement - which encompasses quantity, quality and variety of viewing - remains healthy and that we continue to deliver strong value to members.
  • We’ll close out 2026 with an exciting slate including The Further Mis-Adventures of Cliff Booth, limited series The Murder of JonBenét Ramsey, starring Melissa McCarthy and Clive Owen, new seasons of The Diplomat, Nobody Wants This and Lupin, the series finale of Emily in Paris, three NFL games on Thanksgiving Eve and Christmas Day, and the Tyson Fury vs. Anthony Joshua fight.
For the full shareholders letter, please go here.