Netflix Inc

NFLX: XNAS (USA)

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Netflix Earnings: Operating Momentum Remained Strong, but a Surprising Expense Leaves Some Questions

Matthew Dolgin

Oct 22, 2025

Netflix reported good third-quarter sales, encouraging underlying metrics, and a good fourth-quarter outlook. But a $619 million expense based on gross sales in Brazil for periods dating back to 2022 ("a cost of doing business tax") weighed heavily on profits.

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Netflix Inc

Netflix Earnings: Operating Momentum Remained Strong, but a Surprising Expense Leaves Some Questions

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