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Netflix is set to report first-quarter 2026 results after the market closes on Thursday, April 16. The earnings release arrives with the stock gaining 13% over the last month and about 1% over the last 24 hours. Investors are watching revenue growth, subscriber trends, pricing, and the company’s advertising business.
Wall Street expects Netflix to post first-quarter revenue of about $12.17 billion to $12.18 billion. This figure is higher than the $10.54 billion reported in the same quarter last year. Earnings per share are projected at about $0.76 to $0.78, up from $0.66 a year earlier.
The company has also built a steady record of beating revenue estimates. This track record has kept attention on whether Netflix can extend its growth while holding margins at a strong level. The company previously guided for first-quarter revenue of about $12.16 billion and an operating margin near 32.1%.
Netflix said it will publish its financial results and business outlook on its investor relations website at about 1:01 p.m. Pacific Time. A live video interview with co-CEOs Ted Sarandos and Greg Peters, Chief Financial Officer Spence Neumann, and Spencer Wang will begin at 1:45 p.m. Pacific Time.
Investors are also focused on paid subscriber growth. The Street expects Netflix to move past 331 million paid subscribers worldwide in the first quarter. Market attention is likely to center on net additions, retention, and regional growth.
This report is the first since Netflix raised subscription prices again. The ad-supported Standard plan increased by $1 to $8.99 per month. The Standard ad-free tier and Premium tier rose by $2 to $19.99 and $26.99 per month, respectively.
Analysts are watching whether those increases add revenue without pushing churn higher. Bank of America said the changes act as “a validator of Netflix's confidence in their underlying strength and durability.” Management commentary on customer retention after the price changes is likely to remain a key part of the earnings discussion.
Advertising remains one of the main areas under review ahead of the report. Netflix is aiming to build a larger ad-supported business, and analysts are tracking whether this segment can expand while the company protects revenue from higher-priced plans.
BMO Research said, "We see a cleaner Netflix story post-WBD merger break, as investors refocus around core and near-term fundamentals and seek evidence that Netflix can scale a massive $10B+ advertising business over the long term." This view reflects a broader shift back toward Netflix’s core operations after the company ended its pursuit of Warner Bros. Discovery.
Wedbush also said, "Netflix has an incremental $2.8B to spend on content and ad stack improvements this year from its WB deal break-up fee, which we expect to extend its competitive lead." Investors are expected to look for updates on advertising tools, ad-tier adoption, and how live content supports ad demand.
The earnings release comes after a period of stronger sentiment around Netflix’s stock. Shares have moved higher over the last month as investors stepped back from merger concerns and returned their focus to Netflix’s content lineup, pricing power, and ad business.
Options traders are pricing in a move of about 7% in either direction after the results. This leaves guidance, subscriber data, and management’s comments likely to shape the next reaction in Netflix shares.
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