NFLX
Netflix, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Netflix, Inc..
Coverage
Netflix's Rule of 40 Fell 32 Points in a Quarter. The Margin It Actually Steers On Went Up.
Netflix scored 57.77 on the Rule of 40 for the March quarter and 25.51 for the June quarter. Over the same two quarters its operating margin rose from 32.3% to 33.4% and management guided the September quarter to 33.2% against 28.2% a year earlier. On a trailing-twelve-month basis the score moved three points, not thirty-two. The gap between those two numbers is the article.
Netflix Q2 2026: The Numbers Were Fine — the Disclosure Cut Wasn't. Stock Hits 52-Week Low
Netflix beat EPS, beat margin guidance, and bought back a record $4.7B of stock — then fell 9% because it announced its engagement report is going from twice a year to once. We unpack the 'trust gap' driving the reaction.
Netflix Hits 52-Week Low at $79 as Warner Bros Deal Drama Drags On
Netflix stock dropped 42% from its June 2025 peak, hitting fresh 52-week lows near $79. The culprit isn't the business — it's the $83B Warner Bros Discovery acquisition and everything that comes with it.
Earnings release dates
| Quarter | End date | Publication date | Release |
|---|---|---|---|
| 2026 Q2 | 2026-06-30 | 2026-07-16 | Details → |
| 2026 Q1 | 2026-03-31 | 2026-04-16 | Details → |
| 2025 Q4 | 2025-12-31 | 2026-01-20 | Details → |
| 2025 Q3 | 2025-09-30 | 2025-10-21 | Details → |
| 2025 Q2 | 2025-06-30 | 2025-07-17 | Details → |
| 2025 Q1 | 2025-03-31 | 2025-04-17 | Details → |
| 2024 Q4 | 2024-12-31 | 2025-01-21 | Details → |
| 2024 Q3 | 2024-09-30 | 2024-10-17 | Details → |
| 2024 Q2 | 2024-06-30 | 2024-07-18 | Details → |
| 2024 Q1 | 2024-03-31 | 2024-04-18 | Details → |
Company History
Reed Hastings and Marc Randolph launch DVD-by-mail service; pioneers subscription model, disrupting Blockbuster's rental dominance.
Introduces unlimited streaming for subscribers; shifts from physical media to digital delivery, setting stage for cord-cutting era.
Releases first major original series; establishes Netflix as content creator, not just distributor; wins Emmys.
Launches in nearly every country; grows to international powerhouse, diversifying beyond U.S. market.
Subscriber surge during lockdowns; later implements paid sharing and ad-supported tier; narrative evolves to profitability focus.
Rare quarterly subscriber decline triggers major sell-off; prompts strategic shifts to ads, live events, and cost discipline.
Ad-supported plan scales to >$1.5B revenue; achieves ~29.5% operating margin and $9.5B FCF; positions as streaming leader.
Pursues $82.7B all-cash deal for WBD; stock down 39% on antitrust concerns; Q4 2025 strong (18% growth, 325M+ subs); 2026 guidance for $50-51B revenue.
