Netflix shares tank 7% on Wall Street after the streamer issued a weak forecast despite beating profit estimates

Ted Sarandos, Netflix's co-chief executive, has reportedly said the company's recent slate does not measure up to landmark titles like Stranger Things, Wednesday and Squid Game. Lengthy gaps between seasons have taken a heavy toll: Wednesday shed 59 per cent of its audience over a near-three-year hiatus. Netflix shares had already fallen 23 per cent in 2026 ahead of tonight's results, and the company also cautioned investors to expect weak advertising revenue.

Netflix has let go of its chief content officer, the Netflix Film chairman and 1,000 members of staff.

Morgan Stanley reports that viewing hours have plateaued, with no major new English-language hit to point to.