Netflix stock plunged 9% on Friday morning to $67.74 a share, hitting a new 52-week low, after the company's second-quarter earnings report renewed growth concerns. The Los Gatos-based streamer narrowed its 2026 revenue forecast to $51 billion to $51.4 billion from $50.7 billion to $51.7 billion, prompting equity analysts to cut estimates. The stock is down 49% from a year ago, with investors worried about declining U.S. TV viewing time share as YouTube gains ground, potentially leading to subscription cancellations and pricing challenges. Netflix reported second-quarter revenue rose 13% to $12.6 billion and net income grew 9% to $3.4 billion, while its advertising business is on track to reach $3 billion in revenue this year, double the 2025 amount.
Netflix IncNarrowed 2026 revenue forecast and analyst estimate cuts drive stock to 52-week low.