Netflix, Inc. (NFLX) Earnings Call Transcripts
Netflix, Inc.'s Latest Earnings Call - Q2 FY2026
In Q2 2026, Netflix reported revenue of $8.5 billion, reflecting a year-over-year growth of 11%, slightly below the previous quarter's 12%. Earnings per share (EPS) came in at $2.15, beating expectations by $0.12. Management maintained its full-year guidance of 13% to 14% top-line growth, indicating strong momentum despite a slight deceleration in FX-neutral revenue growth. The company emphasized its ongoing expansion opportunities, citing a global addressable market of approximately 800 million households.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $8.5B (miss) |
| EPS | $2.15 (beat) |
| Full Year Revenue Growth Guidance | 13% to 14% (inline) |
| Ad Tier Revenue Growth | N/A (positive) |
| View Hours Growth | 2% (positive) |
| Content Expense Growth | 10% (neutral) |
Guidance from management
Management maintained its full-year revenue growth guidance of 13% to 14%, indicating confidence in achieving its financial targets despite recent deceleration in quarterly growth rates.
What management said
Good afternoon, and welcome to the Netflix Q2 2026 Earnings Interview. I'm Spencer Wang, VP of Finance and Capital Markets. Joining me today are Co-CEOs, Ted Sarandos; and Greg Peters; and CFO, Spence Neumann. As a reminder, we will be making forward-looking statements, and actual results may vary.
We'll now take questions submitted by the analyst community. We'll begin with a question on our guidance and our business outlook. And this question comes from Steve Cahall of Wells Fargo. "What is the main driver of FX-neutral revenue growth slowing from 12% year-over-year in 2Q to 11% year-over-year as the guidance for the third quarter suggests?" Spence, do you want to take that?
What analysts pressed on
Analysts expressed concerns regarding the deceleration in FX-neutral revenue growth and the potential impact of softening viewing hours on future engagement metrics. There were also questions about the effectiveness of Netflix's pricing strategy in a competitive landscape.
Main topics on the call
- Revenue Growth Deceleration — Netflix's FX-neutral revenue growth slowed from 12% to 11% quarter-over-quarter. CFO Spence Neumann stated, "We expect to deliver another strong year with... 13% to 14% top line growth for the full year."
- Content Strategy and Performance — Management highlighted successful content launches, including 'I Will Find You' and 'KPop Demon Hunters'. Ted Sarandos noted, "There's a lot to be happy with in Q2," indicating strong content performance.
- Engagement Metrics — Despite softening viewing hours, Netflix reported a 2% increase in view hours for H1 2026. Greg Peters emphasized, "There is not a linear relationship between view hours and revenue and profit," suggesting a focus on eng...
- Advertising Revenue Growth — Management indicated that the gap between ad tier average revenue per membership and standard tiers is narrowing. Peters mentioned, "That gap is essentially near-term under-realized revenue growth," signaling optimism fo...
Read the full Netflix, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Netflix, Inc.
Netflix, Inc. (NFLX) is a publicly listed company in the Entertainment industry, within the Communication Services sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 44 calls on record spanning January 21, 2020 to July 16, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 44 Netflix, Inc. earnings call transcripts on record, spanning January 21, 2020 to July 16, 2026. Based on this history, Netflix, Inc. reports quarterly. The most recent call on file is dated July 16, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- NFLX
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Communication Services
- Industry
- Entertainment
- Calls on record
- 44
- First call
- January 21, 2020
- Most recent
- July 16, 2026
- Reporting cadence
- quarterly