Netflix Q1 Earnings Expectations: What to Anticipate

Netflix is gearing up to release its first-quarter 2026 earnings report after the market closes on Thursday. Analysts are anticipating revenue of around $12.18 billion and earnings per share of approximately $0.78, representing a solid 15% year-over-year growth.

The company itself has indicated that revenue is expected to hit $12.16 billion with an operating margin of about 32.1%. Option traders are predicting a potential stock movement of roughly 7% in either direction following the report, with call option volumes on the rise, signaling optimism among some investors.

Analysts are feeling bullish about Netflix’s upcoming report, with Wedbush increasing its price target to $118 and Evercore ISI maintaining an outperform rating with a $115 target. Overall, the average rating on Wall Street for Netflix is “Outperform.”

Looking ahead, the average price target for Netflix from 47 analysts is $115.15, with a high estimate of $151.40 and a low estimate of $79.32. This suggests a potential upside of around 8.34% from the current price of $106.28. On the other hand, GuruFocus estimates a downside of -2.40% from the current price based on their GF Value estimate for Netflix in one year at $103.73.

So, as the anticipation builds for Netflix’s earnings report, investors and analysts alike are eagerly awaiting to see how the streaming giant performs in the first quarter of 2026.