Netflix reported third-quarter 2026 revenue of $12.9 billion, up 12% year over year, and diluted EPS of $0.87 versus $0.59 a year earlier. The company cut its 2026 ad revenue forecast to about $2.7 billion from about $3 billion and lowered its 2026 free cash flow forecast to about $12.0 billion from $12.5 billion, which may matter to shareholders weighing the outlook.
Q3 2026 revenue was $12.9 billion, up 12% year over year (11% on a F/X neutral basis); operating margin was 34.6% versus 28.2% in Q3 2025.
2026 revenue forecast is $51.1 billion, about 0.2% below the mid-point of the prior forecast range, with an operating margin forecast of 31.5%.
2026 ad revenue is now expected at about $2.7 billion versus about $3 billion previously; 2026 free cash flow is now expected at about $12.0 billion versus $12.5 billion previously.
Q3 share repurchases totaled $4.8 billion, and $22.3 billion of authorization capacity remained at quarter end.
Netflix disclosed that director Anne Sweeney resigned from its Board of Directors effective July 26, 2026. The company said her resignation was not due to any disagreement with Netflix, which suggests a routine board change rather than a dispute. The filing does not name a replacement or give a reason beyond the absence of disagreement.
Anne Sweeney notified Netflix of her board resignation on July 26, 2026, effective that date
Netflix states the resignation is not due to any disagreement with the company
The filing does not name a successor or a reason for the departure
Netflix completed a registered public offering of $1 billion in 5.250% senior unsecured notes due 2036 on July 22, 2026. The company plans to use the net proceeds to repay its 4.375% Senior Notes due 2026 at maturity and for general corporate purposes.
Offering size: $1 billion in principal amount of 5.250% senior unsecured notes due 2036
Proceeds to repay outstanding 4.375% Senior Notes due 2026 at maturity, plus general corporate purposes
Sold under shelf registration on Form S-3ASR (File No. 333-281071); underwriters include BNP Paribas Securities Corp. and Morgan Stanley & Co. LLC
Netflix reported second-quarter 2026 revenue of $12.6 billion, up 13% from a year earlier, and diluted earnings per share of $0.80 versus $0.72. The company said revenue and operating margin were in line with its guidance, and it narrowed its 2026 revenue forecast to $51.0-$51.4 billion while keeping its 31.5% operating margin forecast.
Q2 revenue was $12.6 billion, up 13% year over year (12% on a foreign exchange neutral basis), which the company said was in line with its forecast.
Diluted EPS was $0.80 versus $0.72 a year earlier; operating margin was 33.4% versus 34.1%.
The 2026 revenue forecast was narrowed to $51.0-$51.4 billion, and the 31.5% operating margin forecast was maintained.
Free cash flow was $1.5 billion in Q2 versus $2.3 billion a year earlier, which the company linked in part to higher cash tax payments including the Warner Bros. termination fee.
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