Netflix expects FY 2026 ad revenue of ~$2.7B, below its ~$3B forecast

Netflix now expects about $2.7 billion in advertising revenue for fiscal 2026, down from its earlier ~$3 billion forecast. Q4 operating margin will be hit by layoff-related costs, while revenue growth slowed to its lowest rate in three years.

• FY 2026 ad revenue forecast cut from ~$3B to ~$2.7B
• Q4 operating margin impacted by layoff-related costs
• Revenue growth slowed to its lowest rate in three years