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.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance