Netflix reported second-quarter 2025 earnings of $7.19 per share, beating estimates by 1.7% with a 47.3% increase from the previous year. Revenues hit $11.07 billion, up 16% YoY, driven by membership growth and higher pricing. The company shifted focus from subscriber counts to financial metrics and user engagement.

Netflix’s member growth surpassed forecasts in Q2, driven by a strong content slate including hit series like Squid Game, Sirens, and Ginny & Georgia. The company saw revenue growth in all regions, with operating income up 45% YoY. Marketing expenses increased, but operating margin improved due to price hikes and low churn.

Netflix’s balance sheet showed $8.17 billion in cash, with total debt at $14.5 billion. Free cash flow was $2.3 billion, with operating activities generating $2.4 billion. The company repurchased shares and established a commercial paper program. Guidance was raised for 2025, with increased revenue forecasts and operating margin targets.

The second half of 2025 for Netflix includes major content releases like the final season of Stranger Things, Billionaires’ Bunker, and Wake Up Dead Man. The company continues its commitment to diverse international content and expanding its unscripted programming. Live events like boxing matches and NFL games are also part of the upcoming slate.

Read more at Nasdaq: Netflix Q2 Earnings Beat on Squid Game Finale, 2025 Outlook Raised