Netflix Reports Slower Q3 Revenue Growth, Lowers Ad Forecast, and Announces Executive Changes

Netflix's third-quarter results show an 11.8% year-over-year revenue growth to $12.87 billion, but the company has lowered its full-year advertising revenue forecast from $3 billion to approximately $2.7 billion. The streaming giant also underwent significant executive changes and layoffs, impacting about 6% of its staff and senior creative executives, including Bela Bajaria, head of content.