NETFLIX INC (NFLX) Earnings Summary
NFLX Earnings Beat Rate & Surprise History
NETFLIX INC (NFLX) has beaten EPS estimates in 7 of its last 8 reported quarters (+88%), and beaten revenue estimates in 7 of 8 (+88%).
On balance, analysts have tended to underestimate NFLX's earnings. It is currently on a 3-quarter EPS beat streak. The stock has averaged -0.3% the trading day after an EPS beat (positive 43% of the time) and -10.1% after a miss. The average EPS surprise runs +9.3%, with the biggest beat at +61.1% and the biggest miss at -15.7%.
How often NFLX has cleared Wall Street's bar, for EPS and revenue separately, companies can beat one and miss the other. See how analysts are rating it now →
Based on 8 quarters where a report date lines up with price history on record. Reaction day is determined from report timing, for after-market-close (AMC) reports, the reaction shows up the next trading day; for before-market-open (BMO) reports, it's the report day itself.
| Result | Next day | 5 trading days | 20 trading days |
|---|---|---|---|
| EPS beat | -0.3% (43% pos, n=7) | +0.9% (43% pos, n=7) | +4.5% (57% pos, n=7) |
| EPS miss | -10.1% (0% pos, n=1) | -11.4% (0% pos, n=1) | -11.4% (0% pos, n=1) |
Average earnings-day move (either direction): +7.1%. Largest on record: +11.1%.
Every quarter with reaction data, side by side. Rows where the surprise direction and the stock's move disagree are highlighted.
| Quarter | Report Date | EPS Surprise | Rev Surprise | Next-Day Move |
|---|---|---|---|---|
| Q2 '26 | Jul 16, 2026 | +1.7% | -0.2% | -7.3% |
| Q1 '26 | Apr 16, 2026 | +61.1% | +0.6% | -9.7% |
| Q4 '25 | Jan 20, 2026 | +1.4% | +0.7% | -2.2% |
| Q3 '25 | Oct 21, 2025 | -15.7% | +0.0% | -10.1% |
| Q2 '25 | Jul 17, 2025 | +1.8% | +0.2% | -5.1% |
| Q1 '25 | Apr 17, 2025 | +16.7% | +0.3% | +1.5% |
| Q4 '24 | Jan 21, 2025 | +1.7% | +1.4% | +9.7% |
| Q3 '24 | Oct 17, 2024 | +5.6% | +0.6% | +11.1% |
A beat doesn't guarantee a rally, and a miss doesn't guarantee a drop, expectations already priced in can flip the reaction.
Beat/miss alone doesn't say how big, a company that beats by 0.1% every quarter behaves very differently from one that swings ±20%.
| Avg Surprise | Median | Largest Beat | Largest Miss | |
|---|---|---|---|---|
| EPS | +9.3% | +1.7% | +61.1% | -15.7% |
| Revenue | +0.4% | +0.4% | +1.4% | -0.2% |
More analysts covering a stock generally means more scrutiny and (often) tighter estimates.
Average surprise size by fiscal quarter, some businesses are just more predictable in certain quarters than others.
| Fiscal Quarter | Avg EPS Surprise | Avg Revenue Surprise | Years on Record |
|---|---|---|---|
| Q1 | +38.9% | +0.5% | 2 |
| Q2 | +1.7% | +0.0% | 2 |
| Q3 | -5.1% | +0.3% | 2 |
| Q4 | +1.6% | +1.0% | 2 |
Each quarter compared to the same fiscal quarter one year earlier, the standard way to strip out seasonality.
| Quarter | Report Date | EPS Growth | Revenue Growth |
|---|---|---|---|
| Q2 '26 | Jul 16, 2026 | +11.1% | +13.4% |
| Q1 '26 | Apr 16, 2026 | +86.4% | +16.2% |
| Q4 '25 | Jan 20, 2026 | +30.2% | +17.6% |
| Q3 '25 | Oct 21, 2025 | +9.3% | +17.2% |
Objective, rule-based checks, not a subjective rating.
How often does NFLX beat EPS estimates?
NETFLIX INC has beaten EPS estimates in 7 of its last 8 reported quarters, a +88% beat rate. The average surprise is +9.3%.
How often does NFLX beat revenue estimates?
NFLX has beaten revenue estimates in 7 of its last 8 reported quarters, a +88% beat rate.
How does NFLX's stock react to earnings?
Over 8 quarters with price data on record, NFLX has averaged -0.3% the trading day after an EPS beat (positive 43% of the time) and -10.1% after a miss (positive 0% of the time). It has also fallen despite beating both EPS and revenue in 3 instance(s), a reminder that a beat alone doesn't guarantee a positive reaction.
What is NFLX's biggest earnings surprise?
NFLX's largest EPS beat on record is +61.1%, and its largest EPS miss is -15.7%.
Is NFLX currently on an earnings beat or miss streak?
NFLX is on a 3-quarter EPS beat streak. Its longest beat streak on record is 4 quarters; its longest miss streak is 1 quarters.
Do analysts usually underestimate or overestimate NFLX?
Analysts have tended to underestimate NFLX's results, based on a +88% EPS beat rate over the last 8 reported quarters.
Every reported quarter on record, estimate vs. actual.
| Quarter | Report Date | EPS Est | EPS Actual | EPS Surprise | Revenue Est | Revenue Actual | Revenue Surprise | Analysts |
|---|---|---|---|---|---|---|---|---|
| Q2 '26 | Jul 16, 2026 | $0.79 | $0.80 | +1.7% | $12.58B | $12.56B | -0.2% | 37 |
| Q1 '26 | Apr 16, 2026 | $0.76 | $1.23 | +61.1% | $12.18B | $12.25B | +0.6% | 32 |
| Q4 '25 | Jan 20, 2026 | $0.55 | $0.56 | +1.4% | $11.97B | $12.05B | +0.7% | 32 |
| Q3 '25 | Oct 21, 2025 | $0.70 | $0.59 | -15.7% | $11.51B | $11.51B | +0.0% | 38 |
| Q2 '25 | Jul 17, 2025 | $0.71 | $0.72 | +1.8% | $11.06B | $11.08B | +0.2% | 36 |
| Q1 '25 | Apr 17, 2025 | $0.57 | $0.66 | +16.7% | $10.51B | $10.54B | +0.3% | 37 |
| Q4 '24 | Jan 21, 2025 | $0.42 | $0.43 | +1.7% | $10.11B | $10.25B | +1.4% | 39 |
| Q3 '24 | Oct 17, 2024 | $0.51 | $0.54 | +5.6% | $9.77B | $9.82B | +0.6% | 38 |