Netflix Shares Hit Two-Year Low After Guidance Falls Short
Netflix guided Q3 revenue to $12.86 billion and profit of $0.82 a share, below what markets had priced in.
- Q3 operating margin guidance fell to 33.2%, below the pace investors had modeled.
- Full-year 2026 revenue is now guided at $51.0 to $51.4 billion, margin 31.5%.
- Free cash flow dropped to $1.525 billion in Q2, down 33% from $2.267 billion.
Why it matters: A forecast missed across every line is management admitting its own growth story slowed.
Netflix Q2 2026 Shareholder Letter ↗ · Jul 16, 20267/16/26 · ✓ Checked✓ Check