secwatch.observer — SEC 8-K summary
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Issuer:     NETFLIX INC (NFLX)
CIK:        0001065280
Form:       8-K
Filed at:   2026-10-20T20:01:55+00:00
Accession:  0001065280-26-000290
Event type: earnings
Sentiment:  neutral
Materiality: 0.72
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1065280/000106528026000290/0001065280-26-000290-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1065280/000106528026000290/nflx-20261020.htm
  HTML page:      https://secwatch.observer/filing/0001065280-26-000290

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