Netflix Inc (NASDAQ:NFLX, XETRA:NFC) reports second quarter earnings tonight, and two major brokerages are sticking with their bullish calls even as the stock has struggled this year. Shares were little changed Thursday at $73.50, but that stability masks a rough 2026 for Netflix investors: the stock has fallen more than 20% year-to-date.
Netflix (NASDAQ:NFLX | NFLX Price Prediction) is becoming a media conglomerate.
Visible Alpha consensus is expecting $12.6 billion in revenue for Q2 and $51.3 billion for FY 2026. Consensus expects the operating margin to be 33% in Q2 and to be 32% for FY 2026, down from earlier expectations of 33% due to assumptions about higher expenses. According to consensus, analysts now expect the company to generate the 32% margin, on expected revenue of $51.4 billion and $16.3 billion in operating profit in FY 2026.
Netflix is in regrouping mode heading into its second-quarter earnings reveal – a very familiar place for the company. The streaming giant, which will report financials Thursday afternoon after the close of trading, has already signaled that the quarter is unlikely to be a barnburner.
Netflix reports Q2 2026 earnings after the close on July 16, 2026, and the stock heads into the earnings report at prices most investors never expected to see again.
Netflix reports quarterly earnings on Thursday. The streaming platform's stock has dropped more than 40% over the past year.
Netflix is under pressure to reassure investors about its growth strategy when it reports second-quarter results on Thursday, as its user engagement has faltered amid growing competition from traditional media players, YouTube and mobile viewing.
Trading near its 52-week low, Netflix stock has struggled to gain momentum ahead of its Q2 report on Thursday, July 16.
Even with the Warner Bros. Discovery (WBD) acquisition out of its hair — leaving Paramount Skydance (PSKY) to hold the bag — Netflix, Inc. (NFLX) is struggling this year.
Netflix is set to report earnings after the closing bell Thursday, with the streaming giant's stock seen potentially hitting its lowest point in nearly two years following the results.
Netflix Inc (NASDAQ:NFLX, XETRA:NFC) remains well positioned for long-term growth despite a roughly 20% decline in its shares this year, according to Bank of America, which reiterated its ‘Buy' rating and $125 price objective ahead of the company's second quarter earnings report due on Thursday. The bank wrote that the stock's year-to-date decline reflects investor concerns over engagement trends, the potential impact of artificial intelligence on content creation, and heightened competition following recent media mergers and acquisitions.
Netflix is facing a host of challenges as it prepares to report its second-quarter results late Thursday.