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Netflix Q3 exceeds profit forecasts
Netflix achieved net profits that exceeded analyst expectations in the third quarter of 2026, with earnings of $3.66 billion and revenues increasing by 12% to $12.87 billion, supported by an increase in subscribers and price hikes. However, the company lowered its forecast for advertising revenues in 2026 to $2.7 billion, down from an earlier estimate of three billion, citing slower rollout of advertising features and competitive pressures, which led to a decline in the company's stock. Netflix also announced structural measures including layoffs affecting about 6% of its workforce and the resignation of its head of content, aiming to boost growth and increase viewing hours through content improvements and technology deployment. The company anticipates that costs related to layoffs and leadership changes will impact next quarter’s results, exerting pressure on operating margins.
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