Netflix stock tanks as Q3 revenue falls short: 'Nothing here to get excited about'

Netflix shares plunged over 10% in early trading after the company's Q3 revenue guidance of $12.86 billion missed Wall Street's $13 billion expectation, with EPS guidance of $0.82 also falling short of the $0.84 estimate. While Q2 earnings beat at $0.80 per share and revenue reached $12.56 billion (13.4% YoY growth), growth is decelerating — US and Canada revenue grew only 10% year-over-year, and view hours growth slowed to just 2% in H1 2026.

Why it matters: Netflix stock is down 40% over the past 12 months, and a Bloomberg Intelligence analyst said 'there's really nothing here to get excited about' as the company struggles to reinvigorate growth amid intensifying competition.