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Netflix Q2 2026 Revenue Misses at $12.56B, Q3 Guided to $12.86B vs. $13B Estimate — Stock Falls 8.5% After-Hours

Netflix reported Q2 2026 revenue of $12.56 billion, up 13.4% year-over-year but narrowly missing the Wall Street consensus of $12.59 billion, while guiding Q3 revenue to $12.86 billion against analyst expectations of $13.0 billion. EPS of $0.80 beat by one cent, but operating margin slipped to 33.4% from 34.1% a year earlier. Shares fell more than 8% in after-hours trading Thursday as the company also announced it will reduce the frequency of its viewership disclosure reports.

Netflix Q2 2026 Earnings Due After Close — $12.58B Revenue and $0.79 EPS Expected as Ad Tier Hits 250M Monthly Active Viewers

Netflix reports Q2 2026 earnings after Thursday's close, with consensus expecting revenue of $12.58 billion, up 13.5% year-over-year, and EPS of $0.79. The stock has fallen 44% from peak levels amid engagement concerns and YouTube competition, hitting a 52-week low in June. Investors will focus on advertising momentum — the company's ad-supported tier reached 250 million monthly active viewers — and management commentary on potential M&A and live sports strategy for the second half.