Live Updates: Netflix (Nasdaq: NFLX) Q2 Earnings News & Analysis

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Second Quarters Have Been Tough for Netflix

2:53 pm
by Eric Bleeker

Any interesting piece of data before Netflix reports comes from Bespoke Investment Group. They ran the numbers and found that Netflix averages a -5.33% return the day after second quarter earnings.

In fact, Netflix’s stock has only finished positive in 22% of days following second-quarter earnings announcements. You can find the data in an embedded X post below.

 

Why has Q2 been so tough for Netflix $NFLX earnings over the years? pic.twitter.com/PcvoXhtWl9

— Bespoke (@bespokeinvest) July 17, 2025

We’ve been following Netflix‘s (Nasdaq: NFLX) stock price movements today ahead of its earnings release. Now, with little more than an hour to go before earnings, we’re launching this earnings hub that will keep you updated with all the need-to-know information the moment Netflix’s earnings go live. 

There’s plenty at stake when Netflix issues earnings tonight:

• The company’s shares are up about 42% year-to-date and more than 550% since April 2022. 
• After all those gains, Netflix trades for about 50 times this year’s adjusted earnings. 
• Which is to say, while owning Netflix has been very lucrative the past 18 months for shareholders, each time the company racks up more gains, the expectations for what the company can deliver increase. 

What to Expect When Netflix Reports Tonight 

In our earlier live blog, we covered Wall Street’s expectations for tonight’s earnings. If you missed it, here’s the numbers to watch:

• Revenue: $11.06 billion 
• EPS (Normalized): $7.09 
• Cash from Operations: $2.28 billion 

And full-year estimates are currently set at 

• 2025 Revenue: $44.50 billion 
• 2025 EPS: $25.79 

One note worth. mentioning, Netflix continues to deliver outstanding operating leverage. While sales growth is expected to clock in at just under 16% this quarter, EPS is expected to surge by 45%. 

What Wall Street is Saying Today

Ahead of Netflix’s earnings, here’s what Wall Street is saying today:

• Bernstein: Has a price target of $1,390 on Netflix and reiterated they believe the company can join the ‘trillion dollar club.’ Taiwan Semiconductor become the latest tech company to hit that milestone after its earnings report this morning. 

Options markets are pricing in about a 7% move (in either direction) for Netflix’s shares tomorrow. If any more Wall Street research hits before Netflix’s earnings drop a little after 4 p.m. we’ll provide live updates. 

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