Netflix Stock Dips Ahead of Q3 Earnings as Estimates Point to Slowing Growth

Netflix (NFLX) stock fell 1.98% amid a market uptick as investors look ahead to the company's Q3 earnings report on October 18.

Analysts expect Netflix to post Q3 EPS of $3.47, up 11.94% year-over-year, on revenue of $8.53 billion, up 7.65%.

For full year 2023, consensus estimates call for EPS of $11.91, up 19.7%, on revenue of $33.68 billion, up 6.54%.

Netflix shares have fallen 14.12% over the past month compared to a 2.8% drop in the Consumer Discretionary sector.

Netflix currently has a Zacks Rank #4 (Sell) based on downward revisions to earnings estimates over the past month.