Netflix Reports Q3 Earnings, Issues Weaker Q4 Forecast Amid Workforce Reductions

Netflix announced its third-quarter earnings, reporting revenue of $12.87 billion, an 11.8% increase year-over-year. However, the company issued a weaker-than-expected forecast for the fourth quarter and confirmed a 6% workforce reduction and leadership changes, impacting investor sentiment and its stock price. The streaming giant is focusing on core streaming, film, and live events, alongside original content to drive future growth.