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Q4 2025 revenue $12.05B, op profit +30% → $51B 2026 guidance, +$3B ads

Netflix exceeded Q4 2025 expectations with revenue of $12.05 billion and 30% operating profit growth, and projects $51 billion in revenue for full-year 2026, a 14% year-over-year increase, with an operating margin target of 31.5%. Ad sales expanded 2.5x in 2025 and are projected to double to $3 billion in 2026, marking a significant monetization milestone. The company is also streamlining operations by cutting several dozen roles across global product and creative studio teams, while Q1 2026 earnings are expected on April 16.

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