# Netflix Reports Record Quarter After Laying Off 1,000 Employees

> Netflix reported record earnings just six days after cutting 1,000 employees.
- Title: Netflix Reports Record Quarter After Laying Off 1,000…
- Summary: Netflix reported record earnings just six days after cutting 1,000 employees. Netflix achieved a record $12.87 billion revenue and $4.46 billion operating…
- Keywords: netflix, revenue, operating profit, layoffs, record quarter, third quarter, ceo, ted sarandos, greg peters, Reports, Record, Quarter
- Source: Inc — https://inc.com/jason-aten/netflix-just-reported-a-record-quarter-6-days-after-announcing-it-was-laying-off-1000-employees/91423631
- Read time: 1 min
- Topics: netflix, revenue, operating profit, layoffs, record quarter, third quarter, ceo, ted sarandos, greg peters
## Netflix layoffs
Netflix announced layoffs of 1,000 employees six days before reporting record quarterly earnings.

> netflix just reported a record quarter, six days after announcing it was laying off one thousand employees
## Layoffs impact
The cuts primarily affected technology, product, legal, and human resources staff, representing the largest round since 2022.

> it does seem like that’s basically everyone
## Record revenue
Netflix reported $12.87 billion in revenue, a 12 percent increase from the previous year.

> revenue reached a record $12.87 billion
## Operating profit
Operating profit rose 37 percent to a record $4.46 billion, with net income increasing 44 percent to $3.66 billion.

> operating profit rose 37 percent to a record $4.46 billion
## Profitability
Netflix achieved a 34.6 percent operating margin, up from 28.2 percent a year earlier.

> operating margin was 34.6 percent
## CEO statement
Co-CEOs Ted Sarandos and Greg Peters stated the company remains on track to deliver its full-year forecast despite layoffs.

> our business is strong and growing, and we remain on track to deliver our full-year forecast
## Profitability paradox
Even with record profits, Netflix could not retain 1,000 employees after the layoffs.

> even that wasn’t enough to keep 1,000 people employed
## What happens next
Netflix continues to focus on strategic restructuring while maintaining strong financial performance.

> we remain on track to deliver our full-year forecast
## Key takeaway

Netflix achieved a record $12.87 billion revenue and $4.46 billion operating profit in its most profitable quarter ever while laying off 1,000 employees.