---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42743181.md"
description: "NFLX 2Q26 First Take: Results were lukewarm against modest expectations, with revenue in line with guidance and growth clearly decelerating. The company guided Q3 revenue to $12.86bn, implying further slowdown. NFLX kept its full-year revenue outlook but narrowed the range to $51.0–51.4bn (+13–14% YoY).Near-term growth softness mainly reflects late-cycle content and the backlash from price hikes in core markets. It also fails to ease investors' medium- to long-term concerns around substitution from short-form video and AI.The one positive: profitability and cash flow remain relatively stable, even after accounting for a breakup fee on a failed acquisition. This stems from the core business model and potential AI-driven content cost efficiencies.Beyond that, with the WBD acquisition on hold and a buyback boost announced in Apr., the company repurchased $4.7bn this quarter. This far exceeds its typical quarterly pace in prior years and could continue to help cushion valuation pressure ahead。$Netflix(NFLX.US)"
datetime: "2026-07-16T23:30:47.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42743181.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42743181.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42743181.md)
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# NFLX 2Q26 First Take: Results were lukewarm agains…


### Related Stocks

- [WBD.US](https://longbridge.com/en/quote/WBD.US.md)
- [NFLX.US](https://longbridge.com/en/quote/NFLX.US.md)

## Comments (4)

- **IUMw · 2026-07-17T00:58:00.000Z**: The world is only so big. From the US to the rest of the world, there are only so many people who can afford the subscription fee. What growth story is left?
  - **Dolphin Research** (2026-07-20T01:40:17.000Z): The ceiling for paid users indeed exists, fortunately Netflix doesn't rely solely on adding new members to tell its story.
- **石来运转 · 2026-07-17T00:51:44.000Z · 👍 1**: Is it because I stopped watching?
  - **Dolphin Research** (2026-07-20T01:35:45.000Z): Hahahaha😂