Netflix (NFLX) released its Q3 2026 earnings on Oct. 20, after the close of the market. The earnings and post-earnings price action were similar to what we saw in the first two quarters of the year, as Netflix beat on both the top line and the bottom line, but the forward guidance spooked investors, sending shares southward.
During its Q1 and Q2 earnings calls, Netflix did not raise annual revenue guidance despite the beat, which raised fears that the company anticipates a slowdown in the back half of the year. Now, despite a Q3 beat, it forecast annual revenues at $51.1 billion, toward the lower end of its previous guidance of $51 billion to $51.4 billion.
