To be real, this company that became practically synonymous with “streaming” still surprises — and confuses — the markets. Netflix nailed the basics everyone wanted: bingeable series, viral original movies, a direct-to-consumer model that set the standard. But now the conversation is different: monetization, a massive acquisition, and honestly… a mix of fear and optimism everywhere. ## The Big Question: Financial Results With a Plot Twist When Netflix reported its **Q4 2025 earnings** on January 20, 2026, the market was more focused on the **possible acquisition of Warner Bros. Discovery** than on the numbers themselves. But let’s look at the actual data: they were expecting roughly **$11.96 billion in Q4 revenue**, based on the average consensus among analysts. Expected **EPS was around $0.55** after the stock split — numbers that indicate year-over-year operational growth. ([nasdaq.com](https://www.nasdaq.com/articles/buy-netflix-stock-rebound-q4-earnings-approach?utm_source=chatgpt.com)) By itself, that’s not small. Growing revenue almost 17% in a massive business like Netflix is serious. This trend aligns with annual revenue expectations around **$45 billion** for 2025. ([nasdaq.com](https://www.nasdaq.com/articles/buy-netflix-stock-rebound-q4-earnings-approach?utm_source=chatgpt.com)) But here’s the catch: Wall Street wasn’t just looking at the numbers. Everyone’s eye was on Netflix’s gigantic strategy of **buying Warner Bros**, including the HBO Max catalog and entire studios. If this happens, it would be a huge jump in streaming content, basically changing the whole industry game. ([pt.wikipedia.org](https://pt.wikipedia.org/wiki/Proposta_de_aquisi%C3%A7%C3%A3o_da_Warner_Bros._pela_Netflix?utm_source=chatgpt.com)) ## The Beautiful — and Heavy — Mess of the Warner Bros Acquisition This is where the story goes from “quarterly results” to a “plot twist worthy of a Netflix original series.” Netflix made an offer to buy Warner Bros. Discovery’s studios and streaming division. The deal, roughly **$82.7 billion in total value**, is designed to put Netflix in an even more dominant position in global entertainment. ([pt.wikipedia.org](https://pt.wikipedia.org/wiki/Proposta_de_aquisi%C3%A7%C3%A3o_da_Warner_Bros._pela_Netflix?utm_source=chatgpt.com)) Recently, the offer was revised to make the deal **all-cash**, which is a huge (and risky) strategic move. Presenting an all-cash offer gives Warner shareholders a more immediate sense of value — and that shakes expectations. ([theverge.com](https://www.theverge.com/news/863318/netflix-warner-bros-discovery-merger-revision-cash-deal?utm_source=chatgpt.com)) What really grabs attention here is that this acquisition would turn Netflix into not just a streaming service but almost a full media conglomerate, with series and film IPs, sports, franchises, and basically any content you can imagine. It’s like strapping a rocket engine onto a bicycle — thrilling, but scary if you think about the weight it puts on the company’s balance sheet. ## So, Does the Stock Go Up or Down? This is the question everyone wants a yes or no answer to. The truth? It’s not that simple. Stock movement has been volatile precisely because of this huge uncertainty. Even before Q4 results, share prices were reacting to acquisition buzz: swinging up and down. ([barrons.com](https://www.barrons.com/articles/netflix-earnings-stock-price-3122d0cc?utm_source=chatgpt.com)) Recent market reports show the stock dipped since the deal announcement, signaling that many investors are nervous about how much Netflix will pay, how it will finance it, and what it means for the company’s debt. And yeah, that kind of anxiety weighs heavily — investing isn’t just about good numbers, it’s about narrative, confidence, and future perception. ([barrons.com](https://www.barrons.com/articles/netflix-earnings-stock-price-3122d0cc?utm_source=chatgpt.com)) On the flip side, some analysts take a cooler look at fundamentals and say: “Look, the company is still growing, margins still exist, subscribers are still increasing, and ad revenue is starting to pick up.” That last part is huge: ad revenue could offset content production and licensing costs over the long term. ([tipranks.com](https://www.tipranks.com/news/why-the-market-is-bullish-on-netflix-nflx-ahead-of-q4-earnings?utm_source=chatgpt.com)) ## The Numbers That Actually Matter If we focus on the essentials — revenue, profit, subscriptions, trends — there are signs of resilience. Year after year, Netflix continues increasing revenue even in saturated markets like the U.S., and it’s expanding internationally. The combination of paid subscriptions, ad revenue, and price adjustments seems to be working. ([nasdaq.com](https://www.nasdaq.com/articles/can-wbds-827-billion-takeover-push-nflx-stock-higher-2026?utm_source=chatgpt.com)) But let’s be real: growing from $10 billion to $12 billion in revenue isn’t the same as turning that into massive profit. Margins, content costs, post-acquisition debt, and operational execution are at the core of any serious debate today. This isn’t speculation — it’s calculated by analysts and reflected in stock prices and market recommendations. ([nasdaq.com](https://www.nasdaq.com/articles/netflix-nflx-down-15-last-earnings-report-can-it-rebound?utm_source=chatgpt.com)) ## Where Does That Leave You, Reader? The practical takeaway: looking at **netflix stock** right now and saying “buy now” ignores a ton of macro, micro, media consolidation, and market sentiment factors. Saying “never buy” ignores Netflix’s global reach, premium content catalog, and advertising potential. The real summary: Netflix remains fundamentally relevant, growing revenue and its user base. Monetization and ad strategy are starting to show strength. The huge Warner Bros acquisition could make the company even bigger — but adds extra risk and debt. Investors who can look long-term, understand that these moves take time to materialize in results, may find the stock attractive. If you prefer fast moves, immediate gains, and predictability, current volatility could be uncomfortable. ## Extra — The Things Nobody Simplifies Here’s another layer: external competition. Disney+, Amazon Prime Video, and Apple TV+ aren’t sitting still. While Netflix tries to absorb a giant like Warner, these platforms are also accelerating content, technology, and international expansion. Netflix needs to integrate Warner without cannibalizing its own base or diluting focus. ([nasdaq.com](https://www.nasdaq.com/articles/can-wbds-827-billion-takeover-push-nflx-stock-higher-2026?utm_source=chatgpt.com)) And regulatory oversight adds pressure. A deal this size faces antitrust scrutiny and political attention — which can delay the process, raise costs, and reshape the scenario significantly. ## If You Want to Dig Deeper: [https://finance.yahoo.com/news/netflix-set-to-report-fourth-quarter-earnings-with-warner-bros-discovery-deal-hanging-in-the-balance-193213946.html](https://finance.yahoo.com/news/netflix-set-to-report-fourth-quarter-earnings-with-warner-bros-discovery-deal-hanging-in-the-balance-193213946.html) [https://www.nasdaq.com/articles/buy-netflix-stock-rebound-q4-earnings-approach](https://www.nasdaq.com/articles/buy-netflix-stock-rebound-q4-earnings-approach) [https://www.theverge.com/news/863318/netflix-warner-bros-discovery-merger-revision-cash-deal](https://www.theverge.com/news/863318/netflix-warner-bros-discovery-merger-revision-cash-deal) [https://www.investing.com/analysis/netflix-earnings-open-the-door-to-a-rebound-with-the-warner-deal-in-sharp-focus-200673538](https://www.investing.com/analysis/netflix-earnings-open-the-door-to-a-rebound-with-the-warner-deal-in-sharp-focus-200673538) If you want, I can also break down **how advertising revenue might become Netflix’s main growth engine**, or **the long-term debt impact of the Warner deal** — and we can go point by point, like a real deep dive.