Following a dramatic C-suite reshuffle and its largest round of layoffs in years, Netflix’s top executives reassured investors Tuesday that they have a plan to keep audiences hooked.The streaming giant announced that its third-quarter revenue grew 12% year over year, to $12.9 billion, while net income rose 48%, to nearly $3.7 billion.
“Our engagement is solid, and it will allow us to continue to grow as we have for the last several years,” co-CEO Greg Peters said on the streamer’s third-quarter earnings call, referring to the company’s performance in the U.S.“But we know that we can do better.”Revenue increased despite upheaval at Netflix, which last week laid off roughly 1,000 employees, or 6% of its workforce, and ousted Chief Content Officer Bela Bajaria and top film executives Dan Lin and Doug Belgrad.
“We believe we have a responsibility to make hard trade-offs in service of our members, our partners, our employees, our investors and ultimately our long-term growth,” Peters said of the layoffs.“That was the simple thinking behind it and what motivated these recent changes.”Ted Sarandos, Peter Rice, Bela Bajaria and Dan Lin.Getty; WireImageOver the last year, Netflix’s stock has dropped significantly, from $124.14 in October 2025 to $68.69 on Tuesday, because of slowing revenue growth.Netflix remains the biggest subscription streaming video service in the world, with more than 325 million global subscribers.
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