Netflix, Inc. · NFLX · Next earnings

Netflix, Inc. reports Tuesday, Oct 20, 2026

NFLX reports after market close with consensus EPS at $0.82 and revenue at $12.87B. Last quarter: Netflix Reaffirms 2026 Growth Outlook as Live Events Drive Acquisition and Ad Revenue

Reports After market close30 days awayDate estimated Communication Services

What the street expects

Consensus for the coming report
Consensus EPS $0.82 Calendar consensus
Consensus revenue $12.87B Calendar consensus
Report date Oct 20, 2026 Tuesday, date estimated
Session After market close 30 days away

Where NFLX left off: FY2026 Q2

Full report

Netflix Reaffirms 2026 Growth Outlook as Live Events Drive Acquisition and Ad Revenue

EPS surprise +1.3% Reported $0.80 vs $0.79
Revenue surprise -0.2% Reported $12.56B vs $12.58B
Stock move -7.3% Event window
Subsequent drift +2.1% Up to 20 sessions

Netflix maintained its full-year 2026 revenue growth guidance, with the low end nudged from 12-14% (prior quarter) to 13-14%. FX-neutral growth was quantified at roughly 12%. Content spend is expected to grow approximately 10%, slower than revenue growth. The prior quarter's operating margin target of 31.5% was not explicitly restated in the Q2 transcript analysis. Guidance sentiment was rated maintained and management tone remained confident.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Potential slowdown in viewing hours per member could pressure churn and pricing power.
  • Higher churn risk from regional live events that drive episodic rather than sustained engagement.
  • Uncertainty around monetization of new ad products and free-trial experiments.
  • FX-neutral revenue growth decelerating year-over-year.
  • Content spend growth of ~10% could pressure margins if revenue growth slows toward the lower end of guidance.

Questions analysts left open

  • Why FX-neutral revenue growth is decelerating year-over-year.
  • Impact of view-hour softness on churn and pricing power.
  • Performance and scalability of cloud gaming and short-form content.

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Recent NFLX quarters

All NFLX earnings
-7.3%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.