Netflix beat Q3 profit. Its weak Q4 forecast still sank the stock.
Q3 revenue was $12.87 billion, up 11.8 percent. That matched analyst estimates.
Earnings per share hit 87 cents. Analysts expected 82 cents.
Shares fell about 6 percent after hours. The stock closed Tuesday at $68.69.
Netflix forecast Q4 revenue of $13.44 billion. Analysts wanted $13.51 billion.
Q4 profit was guided at 67 cents a share. The street expected 73 cents.
The 2026 ad revenue goal was cut from $3 billion to $2.7 billion.
Netflix cut about 1,000 jobs, 6 percent of staff. The biggest cut since 2022.
Content chief Bela Bajaria was replaced. Ex-Disney executive Peter Rice takes over.
Revenue grew 11.8 percent. That is the slowest growth in nearly three years.
YouTube and TikTok keep winning viewers. Netflix added games, podcasts, and live events.
The holiday quarter is the big test. Read the full explainer on Rive News.
Get the full breakdown, key numbers, and what happens next.
Read on Rive News