The company had projected a slowdown in fourth-quarter revenue growth and lower ad sales for 2026 than previously expected despite posting a stronger-than-expected third quarter profit and revenue that was in-line with Wall Street’s estimates.
The latest results came days after firing Chief Content Officer Bela Bajaria, film chief Dan Lin, and 6% of its total workforce — its largest cuts since 2022. It also follows continued concerns about engagement growth, which has been exacerbated by Netflix’s failed pursuit for Warner Bros. Discovery’s studio and streaming earlier this year and increased competition from YouTube.
“Netflix remains a well-oiled, highly profitable machine, but is focused on too many…
