Netflix reported Q4 revenue of $12.1 billion, up 18% year-over-year, and adjusted EPS of $0.56, slightly above consensus, but its stock fell 7% as Q1 guidance projected $0.76 EPS below analyst estimates and flagged $275 million in acquisition-related costs. The company reiterated its all-cash bid valuing Warner Bros. Discovery’s streaming and studio assets at $83 billion, highlighting integration risks and near-term debt pressures.