KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
Netflix heads into its Q4 2025 earnings facing a familiar tension: solid operating momentum versus elevated market expectations. Revenue has been growing at a mid-teens pace, margins have trended higher over time, and the company is expanding beyond subscriptions through advertising and live events. At the same time, after a strong multi-year stock run and a 10-for-1 share split, investors remain highly sensitive to any signal that growth is slowing or costs are creeping back up.
This makes the upcoming earnings less about a single headline beat or miss, and more about whether Netflix can continue converting engagement into higher revenue per member without sacrificing profitability.
Earnings Date & Time
Netflix will release its Q4 2025 financial results on 20 January 2026 at around 4:01pm ET, followed by a management interview at 4:45pm ET, during which executives will also take questions from analysts.
What the Market Is Expecting
Company guidance vs Street view
Revenue: $11.96bn (guidance) | $11.97bn (Street)
Operating margin: 23.9%
Diluted EPS: $5.45
2026 revenue growth (Street): ~13%
Context From Last Quarter (Q3 2025)
In Q3 2025, Netflix delivered 17% year-on-year revenue growth, in line with its guidance. Operating margins fell short of expectations due to a one-off US$619 million expense linked to a tax dispute in Brazil, which management said is not expected to materially affect future results. Despite the margin impact, engagement remained strong, with Netflix reporting a record share of viewing in both the US and UK based on third-party metrics. The company also posted its best ad-sales quarter on record, with US upfront commitments doubling, setting the stage for Q4 to test whether this momentum can hold through the seasonally strong viewing period.
Key Signals Investors Are Watching
1) Revenue quality
Pricing versus volume contribution
Regional breadth of growth
Churn trends following price adjustments
2) Operating margin
Whether Q4 margin softness is seasonal or structural
Management commentary on margin direction into 2026
3) Free cash flow
Ability to sustain cash generation during heavy content spend
Any update to full-year or forward cash expectations
4) Advertising
Ad demand and pricing trends
Progress of Netflix’s in-house ad technology stack
Engagement levels on the ad-supported tier
5) Engagement and live events
Early indicators from major Q4 releases and live programming
Margin impact of event-driven content
Signals on sports or live-event spending in 2026
6) Monetisation at scale
Growth in higher-priced plans
Evidence that the ad tier acts as a funnel into premium tiers
Retention trends after pricing and product changes
7) Headline risk
Management responses to questions on content strategy, M&A chatter and cost discipline
Clarity on capital allocation between acquisitions and internal investment
Why This Earnings Matters
Netflix has explicitly asked investors to stop focusing on subscriber counts and instead judge performance through revenue, margins and cash flow. That shift raises the bar for this earnings report. If margins normalise after the Q3 distortion and advertising momentum holds, confidence in 2026 earnings visibility should strengthen quickly. Any sign of structurally higher costs, however, could trigger a sharper reassessment.
Bottom Line
This is not a quarter defined by a simple beat or miss. It is a test of whether Netflix can scale pricing, advertising and engagement together, while keeping profitability intact as it enters its next growth phase.
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