Netflix (NFLX) earnings Q4 2025

Netflix Earnings Report: What to Expect

Netflix is set to release its fourth-quarter earnings report on Tuesday, and investors are eagerly awaiting the results. The company’s pending acquisition of Warner Bros. Discovery’s assets is top of mind, and many are wondering how this deal will impact Netflix’s future growth. In recent years, Netflix’s quarterly reports have been relatively steady, with the exception of a miss on earnings estimates last quarter due to a one-time charge.

Netflix stopped reporting subscriber numbers in early 2025, when it had over 300 million global subscribers, and has since focused on its strategy shift towards growing its advertising-supported business. Wall Street has been closely watching the company’s ad-supported business, as well as the effects of recent price increases on the subscriber base and Netflix’s content pipeline. According to analysts polled by LSEG, Netflix is expected to report earnings per share of 55 cents and revenue of $11.97 billion for the fourth quarter.

Impact of Warner Bros. Discovery Acquisition

The proposed acquisition of Warner Bros. Discovery’s streaming and film studio assets for $27.75 per share, or an equity value of $72 billion, has sent shockwaves through the market. This deal marks a significant departure from Netflix’s traditional approach of avoiding industry consolidation and mega deals. The acquisition is expected to have a major impact on Netflix’s future growth and position in the entertainment industry. However, the deal has not been without its challenges, with Paramount Skydance launching a hostile effort to buy all of WBD and regulatory approval still pending.

Since the announcement, Netflix’s stock has fallen, with a nearly 30% drop since October. The company has since amended its offer to be all-cash, and analysts are watching closely to see how the bidding war will play out. According to Mike Proulx, vice president and research director at Forrester, “2026 will be a defining year for Netflix. If the Warner Bros. deal actually happens, it will reposition a newly beefed-up Netflix, not just within the streaming market, but across the entertainment industry at large.”

What’s Next for Netflix

As the streaming giant navigates this significant acquisition, investors and analysts will be closely watching the company’s next moves. With the potential for increased competition and regulatory scrutiny, Netflix will need to carefully manage its growth strategy and content pipeline. The company’s ability to successfully integrate Warner Bros. Discovery’s assets and drive growth beyond its core business will be key to its success in the coming year. As the story continues to unfold, one thing is certain – 2026 will be a pivotal year for Netflix, and the outcome will have far-reaching implications for the entertainment industry as a whole.