Netflix reported Q1 2026 revenue of $12.25 billion, up 16% year-over-year, beating the $12.18 billion analyst consensus, with net income of $5.3 billion and free cash flow of $5.1 billion (CNBC). Reported EPS of $1.23 substantially exceeded estimates, though that figure was inflated by a $2.8 billion breakup fee received after Netflix withdrew from a bidding war over Warner Bros. Discovery assets. Shares fell 9% after hours because the company's Q2 guidance of $12.5 billion and unchanged full-year forecast of $51.2 billion came in below consensus, signaling slower growth ahead (Motley Fool). Separately, co-founder and board chair Reed Hastings announced he will leave the Netflix board in June to pursue philanthropy, ending a 30-year association with the company he founded.