Netflix grows revenue 17% but EPS misses amid Brazil tax charge

Netflix reported third-quarter revenue of $11.51 billion, up 17% year over year, while earnings per share were $5.87 versus $6.97 consensus. Management noted a Brazil tax-related charge weighed on profitability despite steady subscriber engagement, advertising growth pilots, and ARPU improvements in selected markets. Guidance indicated the company still expects around 17% revenue growth in Q4 2025, supported by a broad slate and continued rollout of paid sharing and ads. Analysts highlighted content amortization timing, regional FX trends, and marketing efficiency as key variables for margin progression into 2026.