Netflix earnings due after the bell as investors watch revenue growth and engagement

An office building on Netflix's headquarters campus in Los Gatos, California — Coolcaesar / Wikimedia Commons (CC BY-SA 4.0)

Summary

Netflix says it will post third-quarter results at about 1:01 p.m. Pacific time on October 20.
Analysts surveyed by FactSet expect adjusted earnings of 82 cents a share on $12.9 billion in revenue, according to Barron's.
Investor questions center on engagement, competition and whether Netflix will maintain its full-year financial targets.

What Netflix is scheduled to report

Netflix is scheduled to publish its third-quarter 2026 financial results and business outlook at approximately 1:01 p.m. Pacific time on Tuesday, October 20, followed by an earnings interview at 1:45 p.m. Pacific, according to the company's investor-relations announcement. The report is due after the U.S. stock market closes and is expected to give investors a fresh reading on the streaming company's revenue growth, profitability and plans for the final quarter of the year.^[1]

Wall Street analysts surveyed by FactSet expect adjusted earnings of 82 cents per share and revenue of $12.9 billion, a 12% increase from a year earlier, Barron's reported. Those are forecasts rather than reported results; Netflix had not released its third-quarter figures when this article was published.^[2]

Why investors are watching closely

The stock has fallen about 26% in 2026, according to Barron's, increasing pressure on the company to show that its growth strategy is working. Reuters reported that investors are looking for evidence that Netflix can sustain engagement as YouTube and other lower-cost, creator-driven platforms compete for viewers' time. Co-Chief Executive Ted Sarandos has acknowledged that recent growth has been slower than the company wanted, Reuters said.^{[2] [3]}

Netflix also entered earnings week after cutting about 6% of its workforce, or roughly 1,000 jobs, in its largest layoffs since 2022. Reuters reported that the reductions were concentrated in product, technology, legal and human-resources teams. In an internal memo cited by Reuters, co-CEOs Greg Peters and Sarandos said the business remained on track to deliver its full-year forecast.^[4]

The financial benchmark

Netflix reported $12.6 billion in second-quarter revenue, up 13% from a year earlier, and an operating margin of 33%, according to its second-quarter shareholder letter. The company then forecast full-year revenue of $51.0 billion to $51.4 billion and an operating margin of 31.5%. Tuesday's report will show whether management is keeping those targets and how it expects advertising, live programming and its core subscription business to contribute through year-end.^[5]

The immediate points to watch are the reported revenue and earnings, management's fourth-quarter outlook, and any explanation of viewing engagement. Netflix's scheduled interview should provide the first opportunity for executives to address those questions after the results are posted; until then, analyst estimates and market expectations remain provisional.^{[1] [3]}

Reporting sources

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