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Did Netflix Beat Earnings?
Netflix (NFLX) reported Q1 '26 revenue of $12.2B, up 16.2% year-over-year, with reported EPS of $1.23. That came in 6.8% below the $1.32 analyst estimate — an earnings miss.
AltIndex tracks earnings alongside 25+ alternative data signals that can move ahead of the report — Netflix’s job postings, web traffic, and employee business outlook. See the full NFLX stock analysis or the earnings calendar for upcoming reports.
NFLX Earnings Surprise History (EPS vs. Estimate)
| Quarter | Estimated EPS | Reported EPS | Surprise |
|---|---|---|---|
| Q1 '26 | $1.32 | $1.23 | Missed -6.8% |
| Q4 '25 | $0.55 | $0.56 | Beat +1.8% |
| Q3 '25 | $0.70 | $0.59 | Missed -15.7% |
| Q2 '25 | $0.71 | $0.72 | Beat +1.4% |
| Q1 '25 | $0.57 | $0.66 | Beat +15.8% |
| Q4 '24 | $0.42 | $0.43 | Beat +2.4% |
Netflix Quarterly Financial Trends
| Metric | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9.56B | 9.82B | 10.2B | 10.5B | 11.1B | 11.5B | 12.1B | 12.2B |
| Gross margin | 45.9% | 47.9% | 43.7% | 50.1% | 51.9% | 46.4% | 45.9% | 51.9% |
| Operating margin | 27.2% | 29.6% | 22.2% | 31.7% | 34.1% | 28.2% | 24.5% | 32.3% |
| Net income | 2.15B | 2.36B | 1.87B | 2.89B | 3.13B | 2.55B | 2.42B | 5.28B |
| Net margin | 22.5% | 24.1% | 18.2% | 27.4% | 28.2% | 22.1% | 20.1% | 43.1% |
| EPS | $0.49 | $0.54 | $0.43 | $0.66 | $0.72 | $0.59 | $0.56 | $1.23 |
Netflix Earnings Trend Analysis
Over the eight quarters from Q2 '24 to Q1 '26, Netflix’s quarterly revenue moved from $9.56B to $12.2B. Net margin expanded from 22.5% to 43.1%, against a 51.9% gross margin in the most recent quarter — a read on whether revenue growth is translating into profit. Netflix has beaten Wall Street EPS estimates in 6 of its last 8 reported quarters.
When Is Netflix’s Next Earnings Date?
Netflix reports earnings on a quarterly schedule. Its most recent report covered Q1 '26. For the confirmed upcoming date — and every other company reporting soon — see the NFLX earnings calendar.
Frequently Asked Questions: Netflix Earnings
Netflix's next earnings date has not been confirmed yet. See the earnings calendar for all upcoming reports.
Netflix reported Q1 '26 EPS of $1.23 on revenue of $12.2B (+16.2% YoY). Netflix missed estimates, reporting $1.23 vs. the $1.32 estimate.
Netflix reported Q1 '26 revenue of $12.2B, up 16.2% from the same quarter a year earlier.
Signals like job postings, web traffic, and employee sentiment reflect business activity in real time and can move before quarterly results are reported. AltIndex combines them with 25+ others in the NFLX AI Score.
