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Netflix Tops Q2 Forecast With Record Revenue and Raises 2025 Guidance

Netflix’s pivot to premium pricing with an expanding ad-supported tier underpins its upgraded full-year revenue target.

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A man stands next to a logo of Netflix during an event in Mumbai, India, February 29, 2024. REUTERS/Francis Mascarenhas/File Photo
FILE- In this Nov. 4, 2017, file photo, the logo of entertainment company Netflix is pictured in Paris. (AP Photo/Christophe Ena, File)
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Overview

  • For April through June, Netflix posted $11.08 billion in revenue and diluted earnings per share of $7.19, surpassing analyst estimates.
  • The final season of Squid Game attracted 122 million views, making it the most popular non-English series in Netflix’s history.
  • Netflix lifted its full-year 2025 revenue forecast to $44.8 billion–$45.2 billion and projected Q3 revenue of $11.5 billion with nearly $3 billion in net income.
  • Revenue growth was driven by U.S. and Canada price increases, the global rollout of its in-house ad tech platform and expanded ad-supported subscriptions.
  • The company has ceased releasing quarterly subscriber counts to focus investor attention on profitability, engagement and operating margin metrics.