---
schema_version: "secwatch.filing_event.v1"
accession: "0001065280-26-000290"
form_type: "8-K"
ticker: "NFLX"
cik: "0001065280"
company_name: "NETFLIX INC"
filed_at: "2026-10-20T20:01:55+00:00"
generated_at: "2026-10-20T20:03:07.099621+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.72
calibrated_materiality_score: 0.72
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001065280-26-000290
- form_type: 8-K
- ticker: NFLX
- cik: 0001065280
- company_name: NETFLIX INC
- filed_at: 2026-10-20T20:01:55+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.72
- calibrated_materiality_score: 0.72
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1065280/000106528026000290/0001065280-26-000290-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1065280/000106528026000290/nflx-20261020.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001065280-26-000290
- JSON: https://secwatch.observer/filing/0001065280-26-000290.json
- Plain text: https://secwatch.observer/filing/0001065280-26-000290.txt

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