Netflix's (NASDAQ:NFLX) second-quarter earnings beat expectations on top and bottom lines, and the streaming giant raised full-year revenue expectations. Shares of the company were down nearly 5% by midday on Friday.

Netflix reported total Q2 revenues of $11.08 billion, with an operating income of $3.8 billion and margin of 34.1%, beyond last year and market estimates.

Netflix reported stronger than expected second-quarter results Thursday, with profit jumping 45 percent year-over-year as the streaming giant benefited from subscription price increases and a growing advertising business.

Netflix exceeds Q2 expectations, but stock dips as FX gains, not operational outperformance, drive results. Read more for challenges ahead in 2H24 for NFLX stock.

As it rolls out a big second half of 2025 on the programming front, Netflix said it was raising its revenue forecast for 2025. The updated guidance calls for revenue between $44.8 billion and $45.2 billion, up from the previous target of $43.5 billion to $44.5 billion.

Netflix reported its second-quarter 2025 earnings Thursday and, as per its new custom, the results came sans subscriber data.