Netflix beats on earnings per share, misses on revenue in second quarter

Netflix missed on revenue but beat estimates on earnings per share in the second quarter.

Netflix (NFLX) reported second quarter earnings that beat on earnings per share but missed on revenue, sending shares 4% lower in after-hours trading on Thursday. Netflix reported revenue of $12.56 billion, underperforming Bloomberg consensus estimates of $12.58 billion. That compares with $11.07 billion in the same quarter last year.

Earnings per share came in at $0.80, slightly beating analyst expectations of $0.79 and coming in above the $0.73 reported a year ago. Netflix guided revenue for the current quarter at $12.86 billion, against Wall Street's expectation of $13 billion. The company sees earnings per share for the third quarter at $0.82, compared to analyst estimates of $0.84.

For full-year 2026, Netflix expects revenue of $51 billion to 51.4 billion, roughly in line with its previously forecast range of $50.7 billion to $51.7 billion. The company will be looking for its upcoming short-form content model to help support a bull case for the stock. Beginning August 3, Netflix will be running short-form content from publishers such as Buzzfeed Studios, Condé Nast, Hearst, and Penske Media.

Remaining over Netflix's head is the decision to back out of a bidding war for Warner Bros. Discovery after the streaming giant ceded the acquisition to David Ellison's Paramount Skydance (PSKY). Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.conley@yahooinc.com.