Netflix Q3 Earnings Beat Profit Expectations but Ad Revenue Guidance Falls Amid Streaming Competition
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Key summary
Netflix reported third-quarter revenue of $12.87 billion and net income of $3.66 billion, a 44% increase from the prior year period, though forward guidance for Q4 revenue and earnings missed analyst estimates. The company lowered its full-year 2026 ad revenue target to $2.7 billion from an earlier projection of $3 billion due to slower-than-expected product launches. Amidst competition from Amazon Prime Video, Disney+, YouTube, and TikTok, Netflix also announced plans to cut approximately 1,000 jobs (about 6% of its workforce) and appointed Peter Rice as the new Chief Content Officer, effective October 26, 2026.
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