Update: Netflix Shares Drop Pre-Bell Amid Downbeat Q4 Outlook

05:18 AM EDT, 10/21/2026 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.) Netflix (NFLX) shares were down 6.2% in premarket activity Wednesday after the streaming giant provided a downbeat Q4 outlook. The company reported Q3 earnings late Tuesday of $0.87 per diluted share, up from $0.59 a year earlier. Analysts polled by FactSet expected $0.82. Revenue for the three months ended Sept. 30 was $12.87 billion, up from $11.51 billion a year earlier. Analysts expected $12.87 billion. For Q4, the company expects EPS of $0.67 on revenue of $13.44 billion. Analysts expect EPS of $0.73 on revenue of $13.52 billion. For 2026, Netflix expects revenue of $51.1 billion. It earlier expected $51 billion to $51.4 billion. Analysts expect $51.21 billion.