{
  "id": 15843335,
  "title": "Netflix co-CEO Sarandos says 'we could do better' after weak forecast",
  "url": "https://urgent.news/2026/10/21/netflix-co-ceo-sarandos-says-we-could-do-better-after-weak-forecast",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-21T03:09:24.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40445244/netflix-co-ceo-sarandos-says-we-could-do-better-after-weak-forecast"
  },
  "original_language": "en",
  "account": "On Tuesday, Netflix announced weaker-than-expected guidance for its fourth-quarter profit and lowered its full-year advertising forecast. The streaming giant also reported a decline in third-quarter revenue growth, raising questions about its ability to kick-start growth. Co-CEO Ted Sarandos stated that the company plans to refocus on producing quality TV shows and movies, following recent executive changes. Shares of Netflix dropped nearly 6% to $64.66 in after-hours trading, following a 40% decline in the previous year. Despite third-quarter revenue rising 11.8% to $12.87 billion, slightly below Wall Street forecasts, the company cut its fourth-quarter net income estimate to $2.79 billion and EPS to 67 cents. The reduced advertising forecast for 2026 stands at roughly $2.7 billion, down from $3 billion. Analysts have criticized Netflix for focusing on too many distractions and suggested the company should return to its core content strategy. Netflix has been competing with a surge in viewership on platforms like YouTube and TikTok. In response to the earnings report, the company laid off 1,000 employees (about 6% of its workforce) and replaced two top executives.",
  "summary": "LOS ANGELES: Netflix issued weaker-than-expected guidance for fourth-quarter profit and cut its full-year advertising forecast on Tuesday, days after the streaming pioneer laid off 6% of its workforce and replaced two of its top programming executives. Shares of Netflix fell nearly 6% to $64.66 in after-hours trading. The stock had fallen more than 40% in a year before the earnings report. Co-CEO…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}