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Netflix reported a 17% year-over-year revenue growth for Q3 2025, totaling $11.9 billion. The company forecasts a 16.7% increase for Q4 2025, driven by higher memberships and ad sales. Full-year revenues are expected to reach $45.1 billion, reflecting a 16% year-over-year increase.
Netflix’s Q3 also marked its best ad-sales performance ever, with U.S. upfront commitments more than doubling. The company plans to double ad revenues in 2025 as it enhances its ad-supported tier and integration with Yahoo DSP for targeting and measurement.
Pricing strategies have lifted Netflix’s average revenue per user (ARPU) and achieved an operating margin of approximately 28%, with subscription plans ranging from $7.99 to $24.99. Looking ahead, major releases in Q4 2025 include the final season of Stranger Things, contributing to projected revenue growth of 15.6% for 2025 and 12.9% for 2026.
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