Netflix shares flat despite largest Globo content deal ahead of earnings
Netflix signed its biggest content deal with Brazil's Globo, but investors remain focused on subscriber retention ahead of the third-quarter report.
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what happened
According to Stocktwits, Netflix shares barely moved overnight even though the company signed its largest-ever content agreement with Brazil's Globo. The stock had slipped nearly 1% in regular trading. Investors are more worried about subscriber retention, and retail sentiment on the platform remains bearish.
Under the deal, starting December 18, Netflix will carry 14 films, three telenovelas and one series from Globo, dubbed and subtitled in several languages. Analysts are cautious rather than negative: Seaport Research cut its price target to $90 from $102, and Wedbush lowered its target to $90 from $105, both keeping their ratings. Third-quarter results are due Tuesday, with consensus expecting revenue of $12.86 billion and earnings of $0.83 per share.
why it matters
The deal highlights Netflix's push into local content in Latin America, but the market still wants proof of audience growth. Earnings will be the main driver for the stock, showing whether the company can keep subscribers amid a change in content leadership and cuts of about 5% of staff. The shares are down roughly 25% year to date.
market impact
Netflix shares: earnings and subscriber trends matter more than the new deal; pressure persists
tags
instruments
sources
- NFLX Stock Flat Overnight: Netflix's ‘Largest Content Deal’ With Brazil Media Giant Globo Fails To Sway Retail Ahead Of Earnings — Stocktwits, 20 October 2026 at 04:17 UTC
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