Netflix reports its third-quarter 2026 results on Tuesday, October 20, after the stock market closes. Wall Street expects about $12.87 billion in revenue and 82 cents in earnings per share, in line with the company's own forecast.
The report comes six days after Netflix said it is cutting about 6% of its workforce, nearly 1,000 jobs, its biggest round of layoffs in years.
When is the Netflix earnings report?
| Date | Tuesday, October 20, 2026 |
| Time | After the U.S. market close, about 4 p.m. ET |
| Format | Shareholder letter, then a video interview with co-CEOs Greg Peters and Ted Sarandos and CFO Spence Neumann |
What is Wall Street expecting?
| Netflix guidance | Analyst consensus | Q3 2025 | |
|---|---|---|---|
| Revenue | $12.86bn | ~$12.87bn | $11.51bn |
| Earnings per share | $0.82 | ~$0.82 | $0.59 |
| Operating margin | 33.2% | — | 28.2% |
Guidance from Netflix's July shareholder letter; consensus as cited by InsiderFinance and Vantage Markets.
Netflix's full-year forecast calls for $51 billion to $51.4 billion in revenue and an operating margin of about 31.5%.
Why is Netflix cutting 1,000 jobs?
In a memo to staff on Wednesday, October 14, the co-CEOs said they were making wider "organizational changes." They said Netflix must be selective about where it puts people and money while it invests in future growth.
The cuts fall mainly on product, technology, legal and human resources teams. Netflix had about 16,000 full-time employees at the end of 2025. The co-CEOs said they "don't take them lightly" and that the business is strong, the AP reported.
The Wall Street Journal first reported the layoffs. They are part of a wave of job cuts at big companies this month. See our October layoffs list.
What happened last quarter?
In July, Netflix reported second-quarter revenue of $12.56 billion, up 13%, and profit of $3.4 billion. The numbers were solid, but the third-quarter outlook of $12.86 billion and 82 cents a share fell short of the roughly $13 billion and 84 cents analysts wanted. The stock fell about 9% in pre-market trading the next day, according to Hargreaves Lansdown. Read our Q2 earnings coverage.
What to watch on Tuesday
- Revenue and margin vs. guidance. Netflix usually lands close to its own forecast. The market reaction tends to turn on the outlook.
- The full-year forecast. Any change to the $51 billion revenue range or 31.5% margin target.
- Advertising. How fast the ad-supported plan is growing, and whether ads are cutting into viewing.
- Engagement. Whether people are watching more or less Netflix as YouTube grows its share of TV time.
- Layoff savings. Whether management puts a number on the cost cuts.
- Competition. Paramount Skydance now owns both HBO Max and Paramount+ and plans to merge them into one service over time.
What about Warner Bros.?
Netflix had agreed to buy Warner Bros.' studio and streaming business late last year, then walked away in February. Paramount's roughly $81 billion takeover of Warner Bros. Discovery closed in early October. Our earlier story covers what that merger means.
Published Monday, October 19, 2026. This article is for information only and is not investment advice.
