---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/dolphin/post/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/dolphin/post/42743181.md)
  - [zh-CN](https://longbridge.com/zh-CN/dolphin/post/42743181.md)
  - [zh-HK](https://longbridge.com/zh-HK/dolphin/post/42743181.md)
author: "[Dolphin Research](https://longbridge.com/en/dolphin.md)"
generator: "portal-rs"
---

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


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**