Netflix posts Q3 profit, cuts 1,000 jobs, trims ad revenue forecast

Deadline • 20 Oct 20:13

Netflix reported third-quarter earnings that beat expectations but cut its outlook for fourth-quarter revenue and full-year advertising sales, sending the stock lower in after-hours trading.

Variety • 20 Oct 20:13

Netflix posted Q3 revenue of $12.87 billion and net income of $3.66 billion, but warned of slower revenue growth, a reduced ad-revenue forecast and a restructuring that includes 1,000 layoffs.

CNBC • 20 Oct 16:00

Analysts expect Netflix to post earnings of $0.82 per share on $12.87 billion revenue for the quarter ending Sept. 30, as the company rolls out ad tools and reduces staff.

Deadline • 19 Oct 22:45

Netflix will report its quarterly results after a major re-organization that saw Peter Rice replace Bela Bajaria and a 6% staff reduction, while analysts look for clues on growth, advertising and potential acquisitions.

Yahoo Finance • 19 Oct 17:05

Netflix announced a 6% workforce reduction and warned that subscriber growth is slower than desired, while maintaining its full-year revenue forecast.

The Hollywood Reporter • 19 Oct 13:40

Wall Street analysts note recent layoffs, a chief content officer change and slower engagement as Netflix prepares to report third-quarter results, with varied revenue forecasts and divergent price targets.