Loading...
•
Jun 30
Netflix Q2 2025 Earnings Report
Netflix reported strong Q2 2025 results with revenue and operating income slightly above guidance due to member growth, ad sales, and favorable F/X.
Key Takeaways
Netflix delivered a strong Q2 2025, exceeding revenue and operating income guidance, driven by healthy subscriber growth, increased ad revenue, and positive foreign exchange effects.
Revenue grew to $11.08B, up 16% year over year
Operating income reached $3.77B with a 34% margin
Net income rose to $3.13B with diluted EPS at $7.19
Member growth and ad revenue contributed to better-than-expected results
Netflix
Netflix
Netflix Revenue by Segment
Netflix Revenue by Geographic Location
Revenue by Segment
UCAN Revenue
CapyFin.comEMEA Revenue
CapyFin.comLATAM Revenue
CapyFin.comAPAC Revenue
CapyFin.comRevenue by Geographic Location
UCAN Revenue
CapyFin.comEMEA Revenue
CapyFin.comLATAM Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
Netflix expects Q3 2025 revenue growth of 17% and operating margin of 31%, with strong member, pricing, and ad revenue growth but higher second-half content and marketing spend.
Positive Outlook
- Q3 2025 revenue growth expected at 17%
- Operating margin projected at 31%
- Full-year revenue forecast raised to $44.8-$45.2B
- Operating margin target raised to 29.5% for FY25
- Continued strong member growth and ad revenue momentum
Challenges Ahead
- Operating margin expected to decline in 2H25 due to higher content amortization
- Higher sales and marketing costs anticipated for larger second-half slate
- Revenue growth partly dependent on F/X favorability
- Increased content spending could pressure free cash flow
- Ad revenue growth still developing and execution risk remains