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Netflix (NFLX) shares have been under notable pressure heading into its fourth-quarter earnings report on Jan. 20. Over the past three months, NFLX stock has fallen more than 26%, and it now sits roughly 33% below its 52-week high of $134.12. This decline has occurred despite the solid underlying business performance.
The streaming giant continues to benefit from strong content offerings, steady subscriber growth, and its expanding push into advertising, all of which have supported both revenue and earnings growth. Viewer engagement on the platform remains healthy, suggesting that the core business fundamentals are not deteriorating.