Live: Will Netflix (Nasdaq: NFLX) Stock Soar After Reporting Q2 Earnings?

As a reminder, our earnings coverage has moved. You can follow it by clicking here.

Here’s a summary we posted in that live blog on Netflix’s earnings:

“Netflix Inc. reported strong financial results for Q2 2025, with revenue increasing by 16% year-over-year to $11.08 billion, slightly surpassing guidance due to favorable foreign exchange impacts.

The company’s operating income rose to $3.77 billion, reflecting a 45% increase from the previous year, and the operating margin expanded to 34% from 27% in Q2 2024.

Diluted EPS was $7.19, marking a 47% year-over-year growth. Netflix’s performance was bolstered by increased membership, higher subscription pricing, and ad revenue.

The company also raised its full-year 2025 revenue forecast to $44.8-$45.2 billion, up from the previous $43.5-$44.5 billion, driven by currency fluctuations and business momentum.

Netflix continues to expand its content offerings and ad tech platform, with significant investments in global content production and strategic partnerships.”

Netflix shares are down about 1% in after-hours trading. For our complete analysis please head to our blog focusing on Netflix’s after hours price movements. 

We’ve created a new live article that will post significant updates the moment Netflix earnings release.

Click here to visit our full coverage of Netflix earnings.

Could we see a stock split announcement from Netflix tonight? The streaming giant is set to report earnings with its stock trading at $1,267.20—up 45% over the past six months and a staggering 97% over the past year—putting it well over the price level where it last executed a 7-for-1 split in 2015.

As we approach the market’s midday, Netflix is trading near its daily highs. Shares are up about .72%.

Over the past year, Netflix has beaten consensus estimates each quarter, particularly last quarter when it turned in a 16.82% EPS surprise. To get a sense of how the stock performed after earnings, we broke down 1-day, 7-day and 14-day performance after earnings.

With Q2 earnings on deck, let’s take a look back at Netflix’s first quarter.

As a reminder, Netflix soard after its Q1 earnings in large part thanks to massive subscriber additions.

NFLX | Netflix Q1’25 Earnings Highlights:

• Adj. EPS: $6.61 ✅; UP +25% YoY
• Revenue: $10.54B (Est. $10.50B) ✅; UP +13% YoY
• Adj. Gross Margin: 31.7% ✅; UP +360 bps YoY
• Net Income: $2.89B ✅; UP +24% YoY
• Free Cash Flow: $2.66B; UP +25% YoY

Q2’25 Outlook:

• Revenue: $11.04B ±15% (Est. $11.00B) ✅
  • Expecting continued growth driven by membership increases and higher pricing.
  • Full quarter benefit from recent price changes and ongoing growth in advertising revenue.

Q1 Segment Performance:

• UCAN Revenue: $4.62B (Est. $4.60B) ✅; UP +9% YoY
• EMEA Revenue: $3.40B (Est. $3.35B) ✅; UP +15% YoY
• LATAM Revenue: $1.26B (Est. $1.25B) ✅; UP +8% YoY
• APAC Revenue: $1.26B (Est. $1.25B) ✅; UP +23% YoY

Other Key Q1 Metrics:

• Adj. Operating Income: $3.35B (Est. $3.30B) ✅; UP +27% YoY
• Adj. Operating Expenses: $7.20B; UP +7% YoY
• Effective Tax Rate: 10.1% (vs. 10.8% YoY)
• Net Cash Provided by Operating Activities: $2.79B; UP +26% YoY
• Gross Debt: $15.02B
• Cash and Cash Equivalents: $7.20B
• Shares Repurchased: 3.7M shares for $3.5B

CEO Commentary:

• Greg Peters: “We are off to a good start in 2025. In Q1, revenue and operating income grew 13% and 27% year over year, respectively. Both were ahead of our guidance due to slightly higher subscription and ad revenue and the timing of expenses.”

CFO Commentary:

• Spence Neumann: “Our revenue and profit growth outlook remains solid, with no change to our 2025 guidance forecast for revenue of $43.5-$44.5B and operating margin of 29%.”

Strategic Updates:

• Successfully launched our ad tech platform in the US on April 1, with plans to roll it out in remaining ad countries in the coming months.

Analysts have sharply raised their expectations for Netflix over the past three months, showing the increased optimism around the stock and why it commands such a high earnings multiple.

• EPS estimate increased from $6.26 (90 days ago) to $7.06 (current) — a $0.80 boost.

• FY2025 EPS is pegged at $25.55, rising modestly from $24.76 three months ago.

• FY2026 EPS estimates have also inched up to $30.87, reinforcing confidence in Netflix’s long-term trajectory.