Netflix reports Q3 revenue up 12% YoY to $12.87B, vs. $12.87B est., net income up 44% to $3.66B, due to the timing of expenses; NFLX drops 4%+ after hours (Sarah Whitten/CNBC)

What happened

• Netflix reported third-quarter revenue of $12.87B, up 12% year over year and in line with estimates.
• Net income rose 44% to $3.66B, attributed to the timing of expenses.
• Netflix shares fell more than 4% after hours despite earnings topping analyst estimates.

Why it matters

The results provide updated evidence on Netflix’s growth and earnings conversion, while the after-hours decline signals investor concerns despite in-line revenue and higher-than-expected earnings.

Timeline

1. EarlierOct 19
   Stock Market Today: Stock Futures Rebound After Friday's Tech Selloff
2. First reported by TechmemeOct 20
   Netflix reports Q3 revenue up 12% YoY to $12.87B, vs. $12.87B est., net income up 44% to $3.66B, due to the timing of expenses; NFLX drops 4%+ after hours (Sarah Whitten/CNBC)

Sources (1)

1. TechmemeOct 20
   Netflix reports Q3 revenue up 12% YoY to $12.87B, vs. $12.87B est., net income up 44% to $3.66B, due to the timing of expenses; NFLX drops 4%+ after hours (Sarah Whitten/CNBC)

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