NFLX · PEAD ↓ 29

Netflix reported Q3 2026 EPS of $0.87 on 2026-10-20, beating the $0.82 consensus by $0.05 (+6.1%); prior-year EPS not available in our feed.

Print-day reaction was -1.7% versus the prior close, a muted but negative response to an earnings beat — suggesting the market found something beneath the headline number it did not like. The overnight gap into T+1 open extended the damage sharply, dropping an additional -6.6%, the dominant move of the three-day window. The Day 1–3 drift recovered modestly, +1.2% from the T+1 close to the T+3 close, but fell well short of recouping the gap. Cumulative abnormal return of -4.9% versus SPY.US places this in PEAD short territory; per the documented drift pattern, the read is held through 2027-01-15.