EarningsQ3 2026 Earnings Report
CH:NFC Q3 2026 EPS Results
Actual EPSCHF0.72
Consensus EPSCHF0.68
Beat/MissBeat by +CHF0.04
One Year Ago EPSCHF0.48
CH:NFC Q3 2026 Revenue Results
Actual RevenueCHF10.61B
Expected RevenueCHF10.60B
Beat/MissBeat by +CHF4.58M
YoY Revenue Growth+10.61%
Earnings Announcement Details
QuarterQ3 2026
Date10/20/2026
TimeAfter Close
Conference CallTuesday, October 20, 2026
CH:NFC Upcoming Earnings
Netflix's next earnings date is estimated for January 26, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
CH:NFC Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. Netflix reported healthy global retention, improving churn, strong regional performance, nearly 20% year-over-year revenue growth in India, growth across member, pricing, and advertising levers, positive early TF1 results, expanding licensing and theatrical activity, and continued investment in growth initiatives. The main challenges were slower-than-desired U.S. growth, modest view-hour growth, recent headcount reductions with a 120-basis-point Q4 cost, and advertising performance running behind an aggressive target despite growth of over 80%.Company Guidance
Core Strategy Remains Focused on Premium Entertainment
Netflix said its strategy remains unchanged: combine best-in-class entertainment with industry-leading discovery, global distribution, and monetization. Netflix originals remain the anchor, while roughly 95% of spend and nearly all revenue remain focused on the core business.
Live Events Are Driving Membership and Advertising Value
The company said live events such as the Canelo-Crawford fight and event-type sports involving the NFL and MLB help titles break through, drive new membership, add fuel to advertising revenue, please existing members, and enhance Netflix's value.
Healthy Global Engagement and Retention
Engagement, defined by quality, quantity, and variety of viewing, remains healthy. Q3 churn globally and in the United States improved year-over-year, was better than forecast, and was described as industry-leading. Netflix also said retention was healthy in every region.
Strong APAC, LATAM, and EMEA Performance
Netflix reported great results in APAC, LATAM, and EMEA, with local titles driving engagement and business growth. The company cited Korea, Japan, and the Nordic markets as additional examples of successful regional content execution.
India View Hours and Revenue Growth
In India, a strong local content slate drove Q3 view hours up 24% on an absolute basis and also increased view hours per member. The performance drove membership and nearly 20% year-over-year revenue growth.
U.S. Content Slate Provides Significant Upcoming Volume
Netflix highlighted a broad Q4 and 2027 U.S. slate, including East of Eden, The Diplomat season four, Emily in Paris' final season, The Further Mis-Adventures of Cliff Booth, Bad Day, Steps, Narnia, Charlie and the Chocolate Factory, Bridgerton season five, Wednesday season three, NFL games, and the Women's World Cup.
Content Leadership Transition Expected to Improve Execution
Ted Sarandos thanked Bela Bajaria for her decade-long contribution, including building Netflix's international content organization. He said new Chief Content Officer Peter Rice brings experience across television, film, streaming, theatrical releases, and live sports, as well as strong creative and business expertise and talent relationships.
No Fundamental Shift in Content Strategy
Management said the business flywheel is working and that Peter Rice's role is primarily to improve execution, especially in the United States, rather than make a fundamental strategic change. Netflix said its international content is largely working and that the company is focusing on taking the slate to the next level.
Three Revenue Levers Are Contributing to Growth
Netflix said member growth, pricing, and advertising are all working and contributing to strong 2026 growth. The company expects strong revenue growth into 2027 from the same three levers and said its financial objectives remain double-digit revenue growth, expanding margins, and increasing free cash flow.
Ongoing Investment in High-Impact Areas
Management said recent prioritization work is intended to allow continued aggressive investment in the highest-impact areas that improve the service, drive innovation, and support growth. Netflix also reiterated its philosophy of investing in the business while steadily growing margins each year.
Positive Early Performance from TF1 Integration
Netflix said it was very pleased with the early performance of the TF1 integration in France. The partnership has added popular local French programming, viewing of TF1 content on Netflix is growing every month, and early analysis indicates that TF1 engagement is incremental to the platform.
Expanded Third-Party Licensing Partnerships
Netflix highlighted recent licensing agreements with Disney, Globo, and other suppliers. All five Ice Age films reached Netflix's top 10, while the Globo agreement was described as Netflix's largest content license agreement with Globo and its most meaningful licensing deal in Brazil.
Theatrical Strategy Is Expanding
Netflix expects to release about 30 films theatrically this year, approximately matching last year. Its strategy now includes project-specific releases, a 47-day platform window for La Bola Negra, a two- to four-week IMAX release for The Further Mis-Adventures of Cliff Booth before Netflix availability, and 45-day wide theatrical windows for Narnia: The Magician's Nephew and Charlie vs. the Chocolate Factory.
Strong Early Box Office Result for La Bola Negra
Netflix said La Bola Negra opened with more than $69,000 per-screen average, the second-highest per-screen average ever for a non-English-language film in the United States, behind Parasite.
Advertising Business Growing More Than 80%
Despite being behind its aggressive target for the year, Netflix said its advertising business is still growing over 80% this year. General advertiser demand remains strong, the breadth of advertisers continues to expand, and Netflix remains focused on new formats, products, measurement, and full-funnel optimization.
Advertising Technology Platform Continues to Expand
Netflix said it has been building a differentiated advertising platform that combines digital and television advertising capabilities while preserving member privacy and its first-party data advantage. The company described the build-out as the fastest comparable ad-tech stack build-out in the industry.
Advertising Monetization Gap Is Narrowing
The gap between combined ad-tier average revenue per membership and standard non-ad-tier average revenue per membership is narrowing. Netflix said expanded demand sources, additional ad products, improved measurement, easier advertiser transactions, and increased ad-plan membership are supporting higher fill rates and advertising average revenue per membership.
Planned Expansion of Advertising Countries
Netflix said it is preparing to launch ad tiers in 15 new countries next year, its first expansion of ad countries since the advertising service launched.
Value Proposition Supported by Pricing Response
Netflix said 2026 price increases have gone well across market types, with member responses consistent with prior price changes and expectations. The company also said U.S. subscribers pay the least per hour of viewing compared with other subscription video-on-demand offerings in the country, with some competitors costing more than double per hour.
Multiple Regional Growth Paths
Netflix said mature markets such as the United States, United Kingdom, and Australia should skew toward average revenue per membership and advertising growth. Newer markets such as India, Indonesia, and Colombia have more room for member growth, while markets including Mexico and Japan can combine member and average revenue per membership growth.
CH:NFC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed