Compared to estimates, Netflix (NFLX) Q1 earnings: A look at key metrics

Netflix (NFLX – Free Report) reported $12.25 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 16.2%. EPS of $1.23 for the same period compares to $0.66 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $12.17 billion, representing a surprise of +0.65%. The company delivered an EPS surprise of +61.84%, with the consensus EPS estimate being $0.76.

While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.

Here is how Netflix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue- United States and Canada: $5.25 billion versus the six-analyst average estimate of $5.29 billion. The reported number represents a year-over-year change of +13.6%.
• Revenue- Asia-Pacific: $1.51 billion versus the six-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of +19.9%.
• Revenue- Latin America: $1.5 billion compared to the $1.48 billion average estimate based on six analysts. The reported number represents a change of +18.6% year over year.
• Revenue- Europe, Middle East and Africa: $4 billion versus the six-analyst average estimate of $3.91 billion. The reported number represents a year-over-year change of +17.4%.