Netflix (NFLX) is scheduled to report its third quarter 2025 results and business outlook on Tuesday October 21. A video interview with Netflix executives, including co-CEOs Ted Sarandos and Greg Peters, will follow at 4:45 pm ET. What to watch:
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
GUIDANCE HIKE: Netflix’s membership trends had historically been a closely-watched measure of the company’s growth trajectory, but the streaming video service stopped issuing quarterly subscriber totals earlier in this fiscal year.
Instead, Netflix publishes its bi-annual engagement report – which it says “accounts for 99% of all viewing on Netflix” – in tandem with its Q2 and Q4 earnings results.
Netflix is expected to see its best revenue growth in over four years in Q3, fueled by strong demand for its content and the popularity of original hit film “KPop Demon Hunters.”
Consensus forecasts reported by S&P Global Market Intelligence recently called for $11.51B in revenue and $6.97 in adjusted earnings per share for the September-end quarter, versus the company’s forecast for Q3 revenue of $11.53B and EPS of $6.87.
Netflix said in its last quarterly letter to investors: “In Q3’25, we expect revenue growth of 17% (on both a reported and F/X neutral basis) driven by growth in members, pricing and advertising revenue.” For 2025, the streaming giant increased its revenue forecast to $44.8B-$45.2B from $43.5B-$44.5B, which represents 15%-16% year-over-year growth, or 16%-17% growth on a forex neutral basis. “The majority of the increase in our revenue forecast reflects the recent depreciation of the US dollar vs. most other currencies, with the balance attributable to continued business momentum driven by solid member growth and ad sales,” Netflix stated.
MORE BULLISH: Since the company’s last quarterly report, Loop Capital upgraded Netflix to Buy from Hold with a price target of $1,350, up from $1,150. In a note published on September 17, the firm cited “exceptional” engagement on Netflix’s platform in Q3 and the company’s “strong” Q4 content slate for the upgrade. Loop upped its long-term margin assumptions for Netflix, saying each dollar of content is generating more revenue, which powers higher earnings and free cash flow.
On October 6, Seaport Research upgraded Netflix to Buy from Neutral with a price target of $1,385, up from $1,230. The firm thinks the shares’ moderated momentum could be due to the stock digesting the year-to-date 30% gains ahead of the advertising infrastructure build-related monetization. The firm also notes the continued year-over-year market share gains versus linear, as well as the continued professional, curated content that is driving engagement leadership. Seaport would be a buyer ahead of the Q3 print, the analyst told investors at the time the research note was published.
MORE BEARISH: Taking the other side of peer firms’ increased bullishness, Phillip Securities downgraded Netflix to Sell from Neutral with an unchanged price target of $950. The firm cited Netflix’s “stretched valuation” for the downgrade following a share rally along with declining engagement per viewer. This may be a drag on the company’s advertising revenue amid high expectations, the analyst told investors.
SENTIMENT: Check out recent Media Buzz Sentiment on Netflix as measured by TipRanks.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NFLX:
- Wall Street Turns Up the Volume on Earnings to Silence Trade Fears
- AI Analyst Sees Netflix Stock Staying Strong Heading Into Earnings
- Options Volatility and Implied Earnings Moves Today, October 21, 2025
- Warner Bros. Discovery Stock (NASDAQ:WBD) Notches Up as Apple Departs the Hunt
- Netflix (NFLX) Q3 Earnings Loom: Options Market Prices In a 7.4% Move