Netflix(US:NFLX) 智通财经网·2025-10-23 09:01Core Viewpoint - Despite a strong content lineup in Q3, Netflix's profitability was impacted by a tax dispute with Brazilian authorities, leading to lower-than-expected earnings [1] Financial Performance - Q3 revenue increased by 17% year-over-year to $11.5 billion, meeting market expectations [1] - Operating profit was $3.24 billion, approximately $400 million lower than company forecasts and analyst estimates [1] - The Q3 earnings miss was primarily due to a one-time tax payment of approximately $619 million related to ongoing tax disputes in Brazil [1] Market Outlook - Netflix's Q4 performance outlook aligns closely with Wall Street predictions [1] - Analysts remain optimistic about Netflix's long-term growth potential despite the tax-related expenses [1] - Wedbush downgraded its target price from $1500 to $1400, citing disappointment in Q3 results but acknowledging Netflix's potential for significant growth in global advertising [2] - Morgan Stanley maintained a price target of $1500, noting that excluding the tax impact, overall performance was in line with expectations [2] - Bank of America kept a "buy" rating with a target price of $1490, highlighting the strength in subscriber growth and advertising revenue [3]