Netflix reported second quarter earnings that beat on earnings per share but missed on revenue, sending shares 4% lower in after-hours trading. Revenue came in at $12.56 billion, slightly below Bloomberg consensus estimates of $12.58 billion, while earnings per share reached $0.80, just ahead of the $0.79 analysts expected. The company guided third quarter revenue at $12.86 billion, short of Wall Street's $13 billion forecast, and earnings per share of $0.82 versus estimates of $0.84. Full-year 2026 revenue is expected between $51 billion and $51.4 billion, roughly in line with the prior range of $50.7 billion to $51.7 billion. Netflix also plans to launch short-form content from publishers like Buzzfeed Studios and Condé Nast starting August 3, and recently backed out of a bidding war for Warner Bros. Discovery, ceding the acquisition to David Ellison's Paramount Skydance.
Netflix IncNetflix missed revenue estimates and guided Q3 revenue and EPS below consensus, causing after-hours drop.
Warner Bros Discovery IncNetflix backed out of a bidding war for Warner Bros. Discovery, ceding to Paramount Skydance, but no direct impact on WBD.