Netflix Q2 2026: Revenue Hits $12.56B, Up 13% Year-Over-Year

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NFLX|EPS $0.80 vs $0.79 est (+1.3%)|Rev $12.56B vs $12.58B est (-0.2%)|Net Income $3.40B

Stock $67.12

Modest beat delivered. Netflix, Inc. (NASDAQ:NFLX) reported Q2 2026 diluted earnings of $0.80 per share, edging past the $0.79 consensus by 1.3% based on estimates from 36 analysts. Revenue of $12.56B essentially met the $12.58B Street forecast, while net income reached $3.40B for the quarter. The streaming giant’s shares fell 9.7% during premarket hours on Friday.

Double-digit growth sustained. The company delivered an 11.3% increase in earnings per share compared to $0.72 in Q2 2025, while revenue advanced 13.4% from the $11.08B recorded in the year-ago period. This marks continued momentum in Netflix’s ability to expand both top-line and bottom-line metrics simultaneously, a balance the company has worked to achieve as it matures beyond its hyper-growth phase. Engagement remained robust with view hours reaching 97 billion for the quarter, underscoring sustained consumer appetite for the platform’s content slate.

North American strength. The UCAN segment led regional performance with $5.43B in revenue, climbing 10.0% year-over-year and representing the largest contribution to the company’s top line. This domestic resilience proves particularly noteworthy given the market’s maturity and the competitive intensity in the streaming landscape. The double-digit growth in the company’s home market suggests Netflix’s pricing power and content investment strategy continue to resonate with subscribers in its most established geography.

Full-year framework established. Management set revenue guidance for the full year at $51.00B to $51.40B, providing investors with visibility into expected trajectory through year-end. The midpoint of this range would imply continued healthy growth as the company navigates an increasingly complex content production environment and ongoing efforts to monetize password sharing while expanding its advertising-supported tier. This guidance framework will serve as the benchmark against which the Street measures execution in the second half of 2026.

Market response. The stock was down 9.7% to $67.12 in premarket hours on Friday. With analyst sentiment standing at 29 buy ratings, 13 hold ratings, and zero sell recommendations, the Street maintains a constructive view on the name. The quality of the modest earnings beat, driven by operational performance rather than one-time cost reductions, supports the fundamental case even if it failed to ignite shares.

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