What to Expect From Netflix's Next Quarterly Earnings Report

Los Gatos, California-based Netflix, Inc. (NFLX) provides entertainment services worldwide, offering television (TV) series, documentaries, feature films, games, and live programming across various genres and languages. Valued at a market cap of $298.5 billion, the company is its Q2 2026 earnings on Thursday, July 16, after the market closes. 

Ahead of the event, analysts expect the company’s EPS to be $0.79 on a diluted basis, up 9.7% from $0.72 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in two of its last four quarters, while missing on two other occasions.   

For fiscal 2026, analysts project the company’s EPS to be $3.60, up 42.3% from $2.53 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 6.9% year over year (YoY) to $3.85 in fiscal 2027.   

NFLX’s stock has tanked 44.4% over the past 52 weeks, underperforming the S&P 500 Index’s ($SPX) 20.8% rise and the State Street Real Estate Select Sector SPDR ETF’s (XLC) marginal return during the same time frame.     

On Apr. 16, NFLX stock rose marginally following the release of its Q1 2026 earnings. The company’s revenue for the quarter amounted to $12.3 billion and surpassed the Street’s estimates. Moreover, its adjusted EPS for the quarter came in at $1.23, also topping Wall Street’s estimates. The company expects full-year revenue in the range of $50.7 billion to $51.7 billion. 

Analysts are somewhat bullish on NFLX, with the stock having a “Moderate Buy” rating overall. Among the 49 analysts covering the stock, 31 are recommending a “Strong Buy,” five suggest a “Moderate Buy,” and 13 suggest a “Hold.” NFLX’s average analyst price target is $113.75, indicating an upside of 60.4% from the current levels.