Despite hitting a third quarter earnings per share of $0.87, which beat the $0.82 analyst projection on revenue of $12.87B, free cash flow of $2.88B fell short of the $3.22B estimate. Netflix lowered its full year 2026 free cash flow forecast to about $12B from $12.5B and provided a fourth quarter revenue guide of $13.44B, missing the $13.51B consensus. The company is currently overhauling its leadership team and reducing headcount to reallocate investment into high impact growth and innovation areas.
Tuesday, October 20, 2026
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Netflix Shares Fall 6% to Lowest Level Since August 2024
Earnings3 hours ago
The streaming giant's market capitalization has shrunk by $290B from its all time high as investors reacted to decelerating revenue. Netflix Inc. shares extended after-hours losses to over 6% on Oct. 20, dropping to their lowest level since August 2024 and falling 52% from the stock's peak. This selloff follows the company's report that third quarter revenue grew 12% year over year, marking the slowest growth pace the company has seen in three years.
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