Netflix Q3 revenue $12.9B (+12%), EPS $0.87 (+49%), margin 34.6%; 2026 ad revenue guide cut to ~$2.7B

NETFLIX INC

Q3'26 revenue $12.87B, +12% YoY (+11% F/X neutral), in line with forecast; operating income $4.46B (+37%) and margin 34.6% vs 28.2%, ahead on expense timing.
Diluted EPS $0.87 vs $0.59 (+49%); net income $3.66B. Q4 guide: revenue $13.44B (+11.5%), operating margin 26.0% including ~120bps hit from headcount reductions.
FY2026 revenue guide $51.1B (+13%), 0.2% below prior midpoint; ad revenue now ~$2.7B vs ~$3B previously on slower ad-product rollout; FY operating margin 31.5%.
2026 free cash flow forecast trimmed to ~$12.0B from $12.5B, mainly timing of a Q4 real estate transaction; Q3 FCF $2.88B vs $2.66B a year ago.
Record $4.8B buyback of 63.9M shares; $22.3B left in authorizations. Gross debt $15.3B after $1B bond deal; cash $8.2B. India view hours +24% YoY.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.