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Netflix (DE:NFC)
XETRA:NFC
Earnings Data
Report Date
Apr 21, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.64Last Year’s EPS
0.56Same Quarter Last Year
Moderate Buy
Based on 39 Analysts Ratings
Earnings Call Summary
Q4 2025
Earnings Call Date:Jan 20, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call communicated a broadly positive outlook: management reported solid 2025 results (16% revenue growth, ~30% operating profit growth), ambitious 2026 guidance (revenue +14% to $51B and operating margin expansion to 31.5%), clear traction and explicit plans for advertising, product, games and live events, and a strategic rationale for the Warner Bros. acquisition. Challenges noted — modest aggregate view-hours growth, ad-tier ARM still below ad-free, unchanged FCF guidance, higher near-term expense growth and regulatory/integration risk around the acquisition — appear manageable relative to the scale of opportunities and the strong organic momentum described. Overall, highlights materially outweigh the lowlights.Company Guidance
Strong 2025 Financial Performance
Netflix delivered 16% revenue growth and roughly 30% operating profit growth in 2025, expanded margins, and grew key free cash flow. Advertising sales grew ~2.5x in 2025.
Ambitious 2026 Financial Outlook
Management guided 2026 revenue of $51 billion (up ~14% year-over-year) and targeted a 31.5% operating margin (up ~2 percentage points versus prior year; about +2.5 pts excluding ~0.5 ppt M&A drag).
Advertising Momentum and Roadmap
Ad business scaled rapidly (2.5x growth in 2025) and management expects it to roughly double again in 2026 to about $3 billion. They are building an in-house ad tech stack (ad server rollout starting in Canada) and see narrowing ARM gaps and meaningful upside from improved fill rates, inventory and advertiser demand.
Robust Content Slate and Investment Discipline
Content amortization expected to increase ~10% in 2026 with a content cash-to-amortization ratio maintained at ~1.1x. Management reiterated a ~$17 billion cash content spend target (including expanded live/sports), emphasizing investment across series, films, licensed titles, podcasts and live events while growing content spend slower than revenue to expand margins.
Improving Engagement Quality and Retention
Total view hours grew ~2% year-over-year (adding ~1.5 billion hours). Viewing of branded originals rose ~9% in H2 versus ~7% in H1 and represented ~half of overall viewing. Churn improved year-over-year in the quarter, customer satisfaction and management’s primary quality metric reached all-time highs, and retention described as among the best in the industry.
Product, Games and Live Innovation
Progress on product and new formats: new TV UI (biggest update in a decade) and new mobile UI planned in 2026, vertical video tests underway, cloud-first gaming rollout expanded (TV cloud games now accessible to ~1/3 of members), and live programming scaled to >200 events with plans to expand internationally (e.g., World Baseball Classic in Japan).
Strategic M&A Opportunity — Warner Bros.
Management views the planned Warner Bros. acquisition as a strategic accelerant — pro forma the combined business would have ~85% of revenues from Netflix’s core areas. Management highlighted complementary HBO IP, a mature theatrical business (~$4B global box office cited) and expanded production capacity to drive growth and product differentiation.
Large Long-Term TAM and Room to Grow
Management emphasized material upside: Netflix is under 10% of TV time in major markets and roughly 7% of addressable consumer/ad spend, with hundreds of millions of households still to sign up — signaling multi-year organic growth opportunity.
DE:NFC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:NFC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 20, 2026 | €75.71 | €71.37 | -5.73% |
Oct 21, 2025 | €106.98 | €96.23 | -10.05% |
Jul 18, 2025 | €104.34 | €104.46 | +0.12% |
Apr 17, 2025 | €85.53 | €92.28 | +7.89% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Netflix (DE:NFC) report earnings?
Netflix (DE:NFC) is schdueled to report earning on Apr 21, 2026, After Close (Confirmed).
What is Netflix (DE:NFC) earnings time?
Netflix (DE:NFC) earnings time is at Apr 21, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Netflix stock?
The P/E ratio of Netflix is N/A.
What is DE:NFC EPS forecast?
DE:NFC EPS forecast for the fiscal quarter 2026 (Q1) is 0.64.
