---
schema_version: "secwatch.filing_event.v1"
accession: "0001065280-26-000033"
form_type: "8-K"
ticker: "NFLX"
cik: "0001065280"
company_name: "NETFLIX INC"
filed_at: "2026-01-20T23:59:59+00:00"
generated_at: "2026-05-16T09:28:31.441669+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Netflix Q4 rev $12.05B beats guidance; FY26 rev forecast $50.7-51.7B

## Summary
- Q4 revenue $12.05B (+18% YoY); diluted EPS $0.56 vs $0.43 YoY; paid memberships exceeded 325M.
- Full year 2025 revenue $45.2B (+16% YoY); operating margin 29.5% (up 3 pts); ad revenue >$1.5B (2.5x YoY).
- FY26 revenue guidance $50.7B-$51.7B (+12-14% YoY); operating margin target 31.5%; ad revenue expected to roughly double.
- Q4 operating income $2.96B (+30% YoY); FCF $1.87B; includes ~$60M interest expense for Warner Bros.-related bridge loan.
- Q1'26 revenue forecast $12.16B (+15.3% YoY); operating margin 32.1% forecast.

## SEC filing metadata
- accession: 0001065280-26-000033
- form_type: 8-K
- ticker: NFLX
- cik: 0001065280
- company_name: NETFLIX INC
- filed_at: 2026-01-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1065280/000106528026000033/0001065280-26-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1065280/000106528026000033/nflx-20260120.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001065280-26-000033
- JSON: https://secwatch.observer/filing/0001065280-26-000033.json
- Plain text: https://secwatch.observer/filing/0001065280-26-000033.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.