Netflix (NFLX) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Netflix published the results on October 20, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Share and per-share figures reflect Netflix's ten-for-one stock split, effected on November 14, 2025. The year-ago diluted EPS of $0.59 is the split-adjusted figure; Netflix first reported $5.87.
• Netflix operates as one segment. The regional rows are the revenue breakdown in its shareholder letter, and they sum to the total within rounding.

Source: Netflix Q3 2026 shareholder letter, October 20, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Netflix splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Netflix's UCAN (United States and Canada) revenue was $5.6 billion in Q3 2026, up 11% from $5.1 billion in Q3 2025, 44% of total revenue.
• Netflix's EMEA (Europe, Middle East and Africa) revenue was $4.1 billion in Q3 2026, up 11% from $3.7 billion in Q3 2025, 32% of total revenue.
• Netflix's LATAM (Latin America) revenue was $1.6 billion in Q3 2026, up 17% from $1.4 billion in Q3 2025, 12% of total revenue.
• Netflix's APAC (Asia-Pacific) revenue was $1.5 billion in Q3 2026, up 12% from $1.4 billion in Q3 2025, 12% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Netflix said:

“In Q4, we expect revenue of $13.4 billion, which represents year over year growth of 12% (or 11% F/X neutral) driven by growth in memberships, pricing, and ad revenue.”

“We project a Q4 operating margin of 26.0% which includes ~120 basis points negative impact associated with our recently announced headcount reductions, and compares with 24.5% in the year ago quarter.”

“Our guidance for Q4 means that for the full year 2026 we expect revenue of $51.1B, or growth of 13% (+12% on a F/X neutral basis).”

“We anticipate an operating margin of 31.5% for 2026 (31.4% based on F/X rates as of January 1, 2026) vs. 29.5% in 2025.”

Source: Netflix Q3 2026 shareholder letter, Oct 20, 2026.

This is the company's own guidance as of Oct 20, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the NFLX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP figures from Netflix's shareholder letters. EPS is split-adjusted for the ten-for-one split of November 14, 2025, so Q3 2025 shows $0.59 (first reported as $5.87 before the split). Q1 2026 EPS includes a $2.8 billion termination fee Netflix received when Warner Bros. Discovery ended their merger agreement.

Netflix's next report is expected around January 19, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 20, 2026

Netflix reported Q3 2026 revenue of $12,874 million, up 12% from $11,510 million a year earlier and 11% on a F/X neutral basis, in line with its own forecast. It operates as one segment and breaks revenue out by region: UCAN $5,628 million, EMEA $4,107 million, LATAM $1,603 million and APAC $1,537 million. (Netflix Q3 2026 shareholder letter, Oct 20, 2026)

Netflix's 10-K says its revenues come primarily from monthly membership fees, with plan prices that vary by country and features. At December 31, 2025, paid plans ranged from the U.S. dollar equivalent of $1 to $37 per month. Advertising, consumer products and live experiences make up the rest, and Netflix says revenue from sources other than membership fees was not material in 2025. (Netflix Form 10-K, 2025, Jan 23, 2026)

Netflix's 10-Q attributes the $1,364 million rise in revenue to $1,057 million of growth in subscription revenue, from more memberships and higher prices, and a $256 million increase in advertising revenue. The increase includes a favorable impact of $101 million from foreign exchange rates, net of hedging. Netflix said churn improved year over year globally and in the US. (Netflix Form 10-Q, Q3 2026, Oct 21, 2026; Netflix Q3 2026 shareholder letter, Oct 20, 2026)

Currency moved the regional growth rates. Netflix's LATAM revenue grew 17% as reported but 12% F/X neutral, APAC grew 12% as reported and 15% F/X neutral, and EMEA grew 11% as reported and 9% F/X neutral. UCAN grew 11% on both measures. Netflix said revenue in India grew about 18% F/X neutral, with view hours there up 24%. (Netflix Q3 2026 shareholder letter, Oct 20, 2026)

Netflix lowered its advertising expectation in the letter: it now expects 2026 ad revenue of about $2.7B against approximately $3B previously, citing a slightly slower rollout of some ad product capabilities, while subscription revenue growth outperformed its expectations. It plans to launch the advertising tier in 15 new countries in 2027. (Netflix Q3 2026 shareholder letter, Oct 20, 2026)

Netflix reports GAAP EPS only; its non-GAAP measures are F/X neutral revenue, adjusted operating margin, free cash flow and net debt. Diluted EPS was $0.87 in Q3 2026, against $0.59 a year earlier (up 49%), on net income of $3,664 million. Operating margin rose to 34.6% from 28.2%, and came in ahead of Netflix's forecast mainly because of the timing of expenses. (Netflix Q3 2026 shareholder letter, Oct 20, 2026)

The year-ago quarter carried a one-off cost: Netflix's Q3 2025 cost of revenues included a $619 million expense for non-income tax assessments in Brazil. Q1 2026 EPS of $1.23 was lifted the other way, by a $2.8 billion termination fee paid to Netflix when Warner Bros. Discovery ended their merger agreement, recorded in interest and other income. (Netflix Form 10-Q, Q3 2026, Oct 21, 2026; Netflix Q3 2026 shareholder letter, Oct 20, 2026)

Netflix's share count is falling. Diluted weighted average shares were 4,195 million, against 4,340 million a year earlier, after a ten-for-one split on November 14, 2025. In Q3 2026 Netflix bought back 63.9 million shares for $4.8B, its largest quarter of repurchases, and had $22.3B left under its authorizations. The effective tax rate was 15%, against 18%, mainly on higher U.S. federal research and development tax credits. (Netflix Q3 2026 shareholder letter, Oct 20, 2026; Netflix Form 10-Q, Q3 2026, Oct 21, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Netflix publishes its internal forecast in every shareholder letter. For Q4 2026 it forecast revenue of $13,442 million, operating margin of 26.0% (including about 120 basis points from its recently announced headcount reductions) and diluted EPS of $0.67. For the full year it expects revenue of $51.1B, up 13%, and an operating margin of 31.5%, against 29.5% in 2025. (Netflix Q3 2026 shareholder letter, Oct 20, 2026)

Netflix also cut its 2026 free cash flow forecast to approximately $12.0B from $12.5B, mainly because of a real estate transaction it expects to close in Q4, and it still expects an annual cash content spend to amortization ratio of about 1.1x. (Netflix Q3 2026 shareholder letter, Oct 20, 2026)

A consensus figure is the average of the models published by the analysts who cover Netflix, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Netflix's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning NFLX is on is NFLX a buy or a sell?, what analysts expect next is on the NFLX forecast, and what the company does is on the Netflix (NFLX) stock page.

Every number on this page can be traced to a document Netflix published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.