Netflix fell 5.3% after earnings, with investors likely focused on a U.S. engagement slate that management says is solid but still needs to improve from “very good to great.” The company reiterated full-year guidance, but the transcript offers limited evidence that the U.S. content performance concern has been resolved.
- Q3 churn improved year over year globally and in the U.S., and management said it was better than forecast; recent U.S. price increases performed in line with expectations.
- India view hours grew 24% year over year, and revenue grew nearly 20%; management also cited strong results across APAC, LATAM, and EMEA.
- U.S. engagement was described as solid, but management acknowledged room to improve the slate—an important caveat alongside its lengthy Q4 and 2027 programming lineup.
- Netflix reiterated that it plans to deliver full-year guidance. Management said roughly 95% of spending and nearly all revenue remain focused on its core business, while newer programming areas are tightly funded.
Community Discussion