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Netflix's Q3 earnings exceeded expectations, but its Q4 revenue guidance and advertising revenue forecast were both lowered, causing the stock to drop 7% in after-hours trading.
Netflix reported its Q3 2026 earnings on Tuesday, with revenue up 11.8% year-over-year to $12.874 billion, and net profit up approximately 43.8% to $3.664 billion. Diluted earnings per share were $0.87, exceeding analyst expectations. However, the company projects Q4 revenue to reach $13.4 billion, with year-over-year growth further slowing to 11.5%, marking the fourth consecutive quarter of deceleration. Q4 net profit is expected to be $2.787 billion, with diluted earnings per share of $0.67, both below analyst expectations. Additionally, Netflix lowered its 2026 advertising revenue forecast from $3 billion to $2.7 billion. Impacted by this news, Netflix's stock price fell by as much as 7% in post-earnings trading.
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