Netflix reported second quarter 2026 revenue of $12.56 billion, up 13.4% year-over-year, narrowly missing estimates, while its diluted EPS of $0.80 slightly beat expectations. The company maintained its full-year 2026 operating margin guidance of 31.5% and narrowed its revenue forecast to a range of $51.0 billion to $51.4 billion, implying 13%-14% annual growth.
Key Highlights
- Management reiterated its forecast to roughly double advertising revenue to approximately $3 billion for the full-year 2026, though it did not disclose ad-tier user metrics.
- Netflix will shift its "What We Watched" engagement report from a semi-annual to an annual release beginning in 2027 to increase investor focus on primary financial metrics.
- The company repurchased $4.7 billion of its stock in the quarter, marking its largest single quarter of share buybacks.