Netflix Q3 Revenue Misses Estimates Despite EPS Beat
Netflix reported Q3 2025 revenue of $9.56 billion, missing analyst estimates, while earnings per share of $4.88 beat expectations. The stock fell in after-hours trading.
Key Numbers
Netflix (NFLX) reported its Q3 2025 results, with revenue of $9.56 billion falling short of the $9.77 billion consensus estimate. However, earnings per share came in at $4.88, beating the expected $4.74. The stock dropped over 3% in after-hours trading.
Key Financial Results
| Metric | Q3 2025 | Estimate |
|---|---|---|
| Revenue | $9.56B | $9.77B |
| EPS | $4.88 | $4.74 |
| Net Income | $2.1B | — |
| Revenue Growth (YoY) | 14% | — |
Key Takeaways from the Report
Co-CEO noted that "not all views are created equal," suggesting that subscriber growth does not always translate into higher revenue due to varying pricing tiers and ad-supported plans. The company added 5.1 million net new subscribers, below expectations.
Future Guidance
Netflix did not provide formal guidance for Q4, but management expects continued revenue growth with a focus on improving revenue per subscriber.
Stock Impact
Netflix shares fell 3.4% in after-hours trading, reflecting investor disappointment over the revenue miss.
What This Means for Investors
Despite the EPS beat, the revenue shortfall raises concerns about Netflix's ability to meet growth expectations amid rising competition. The focus remains on improving per-subscriber revenue and developing exclusive content.
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