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Netflix is forecasting 12% year-over-year revenue growth for Q3 2026, or 11% after adjusting for foreign-exchange movements. Those are company forecasts issued with its Q2 results—not Q3 results or analyst consensus. Netflix scheduled its Q3 report and business outlook for Tuesday, October 20, 2026.
What is Netflix’s Q3 revenue growth forecast?
Netflix’s Q2 2026 shareholder letter set a Q3 revenue-growth forecast of 12% year over year on a reported basis and 11% on a foreign-exchange-neutral basis. The distinction matters: reported growth includes the effect of currency movements, while the neutral figure adjusts for them. Netflix attributed its outlook to membership growth, pricing and advertising revenue, but did not quantify how much each is expected to contribute. Netflix’s Q2 2026 shareholder letter
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The forecast is a benchmark to compare with the actual Q3 report when it arrives. Netflix says its guidance is its internal forecast at the time of reporting and that it strives for accuracy. It also cautions that actual performance may vary because of risks and uncertainties. Netflix’s Q2 2026 shareholder letter
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How does the guidance compare with Q2 and the full-year outlook?
Q2 provides recent context, but it is a reported result, not another forecast. The full-year outlook is a separate company projection; it should not be read as the Q3 target.
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| Measure | Netflix’s figure | What it represents |
|---|---|---|
| Q3 2026 revenue growth | 12% reported; 11% foreign-exchange-neutral | Company guidance issued with Q2 results |
| Q2 2026 revenue | $12.6 billion; growth of 13% reported and 12% foreign-exchange-neutral | Reported quarterly result |
| 2026 revenue | $51.0 billion–$51.4 billion; growth of 13%–14% reported and approximately 12% foreign-exchange-neutral | Full-year forecast in the Q2 letter |
Netflix said membership growth, pricing and increased advertising revenue were the primary drivers of Q2 growth, and cited the same broad factors in its Q3 outlook. The company also said it remained on track for approximately $3 billion in advertising revenue in 2026. That is a full-year advertising expectation, not a disclosed Q3 advertising target or a breakdown of the quarter’s revenue growth. Netflix’s Q2 2026 shareholder letter
What is Netflix’s Q3 operating-margin forecast?
Netflix forecast a Q3 operating margin of 33.2%, compared with 28.2% in Q3 2025. Revenue growth and operating margin describe different things: growth measures how revenue changes year over year, while operating margin indicates the share of revenue left after operating expenses. The Q3 margin figure is guidance, not a reported outcome. Netflix’s full-year 2026 operating-margin forecast is 31.5%, a separate measure for the full year. Netflix’s Q2 2026 shareholder letter
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
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When does Netflix report Q3 earnings?
Netflix scheduled its Q3 2026 results and business outlook for Tuesday, October 20, at approximately 1:01 p.m. Pacific Time. A live interview with co-CEOs Greg Peters and Ted Sarandos, CFO Spence Neumann, and VP of Finance/IR & Corporate Development Spencer Wang was scheduled for 1:45 p.m. Pacific Time. Netflix Investor Relations events calendar
As of October 12, 2026, the results had not yet been released. The October 20 report will show how actual performance compares with the company’s 12% reported-growth forecast and 33.2% operating-margin forecast.
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
- Codes are applied to your account as a gift balance. Gift codes can be added to any plan, regardless of the amount.
- Redemption: Online
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
- Codes are applied to your account as a gift balance. Gift codes can be added to any plan, regardless of the amount.
- Redemption: Online
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- Unlimited movies, TV shows, and more. Watch anywhere. Cancel anytime.
- Give the gift of entertainment so your friends and family can stream unlimited films and Netflix original series. Whether your loved one already has a Netflix account or they will be creating a new account, they can use a Netflix gift card toward their membership.
- No credit card is required to redeem a gift code.
- Codes are applied to your account as a gift balance. Gift codes can be added to any plan, regardless of the amount.
- Redemption: Online
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
