Netflix reported second-quarter 2025 earnings with adjusted earnings per share (EPS) of $7.19, surpassing analyst estimates of approximately $7.07. Revenue reached $11.08 billion, representing a 16% year-over-year increase and slightly exceeding consensus estimates near $11.06 billion. The company’s operating margin expanded to 34%, up from 27% in the previous year, and free cash flow rose 87% year-over-year to $2.27 billion. Netflix raised its full-year 2025 revenue guidance to a range of $44.8 billion to $45.2 billion, up from prior estimates of $43.5 billion to $44.5 billion, reflecting anticipated 15%-16% growth driven by member growth, higher subscription pricing, and increased advertising revenue. For the third quarter, Netflix projects EPS of $6.87 and revenue of $11.53 billion, both above consensus forecasts. The company also highlighted regional revenue growth, including 15% in the US and Canada and 18% in EMEA. Netflix’s stock experienced a modest decline in after-hours trading despite the positive results, attributed to recent strong performance earlier in the year.