Q2 25 EPS
$7.19
BEAT +1.89%
Est. $7.06
Q2 25 Revenue
$11.08B
BEAT +0.40%
Est. $11.04B
Did NFLX Beat Earnings? Q2 2025 Results
Netflix posted a strong second quarter for fiscal 2025, beating Wall Street expectations on both the top and bottom lines as surging profitability and broad-based subscriber momentum defined the period. The streaming giant reported diluted EPS of $7.… Read more Netflix posted a strong second quarter for fiscal 2025, beating Wall Street expectations on both the top and bottom lines as surging profitability and broad-based subscriber momentum defined the period. The streaming giant reported diluted EPS of $7.19, ahead of the $7.06 consensus estimate by 1.89%, while revenue climbed 15.9% year over year to $11.08 billion, edging past the $11.04 billion consensus by 0.40%. The headline driver was a dramatic expansion in operating income, which jumped 45% year over year to $3.77 billion as operating margin widened to 34.1% from 27.2% a year ago, fueled by member growth, higher subscription pricing, and a rapidly scaling advertising business. Despite the strong print, the stock slipped in after-hours trading, raising questions about whether recent record highs had already priced in the upside. Looking ahead, Netflix raised its full-year 2025 revenue outlook to $44.80 billion-$45.20 billion and lifted its free cash flow forecast to $8.00 billion-$8.50 billion, signaling continued confidence in its growth trajectory.
Key Takeaways
- • Member growth, higher subscription pricing, and increased ad revenue drove 16% YoY revenue growth
- • UCAN revenue growth accelerated to 15% from 9% in Q1 due to full-quarter impact of price changes
- • All regions posted double-digit F/X neutral revenue increases
- • Favorable foreign exchange impact net of hedging contributed to revenue upside vs guidance
- • Operating margin expansion of 7 percentage points YoY to 34.1%
NFLX YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
NFLX Revenue by Segment
With YoY comparisons, source: SEC Filings
NFLX Revenue by Geography
With YoY comparisons, source: SEC Filings
NFLX Earnings Trends
NFLX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NFLX EPS Trend
Earnings per share: estimate vs actual
NFLX Revenue Trend
Quarterly revenue: estimate vs actual
NFLX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.23 | — | $12.25B | +0.63% |
| Q4 25 BEAT FY | $0.55 | $0.56 | +1.82% | $12.05B | +0.70% |
| FY Full Year | $2.55 | $2.53 | -0.91% | $45.18B | +0.19% |
| Q3 25 MISS | $6.97 | $5.87 | -15.79% | $11.51B | -0.01% |
| Q2 25 BEAT | $7.06 | $7.19 | +1.89% | $11.08B | +0.40% |
| Q1 25 BEAT | $5.66 | $6.61 | +16.83% | $10.54B | +0.35% |