---
schema_version: "secwatch.filing_event.v1"
accession: "0001065280-25-000322"
form_type: "8-K"
ticker: "NFLX"
cik: "0001065280"
company_name: "NETFLIX INC"
filed_at: "2025-07-17T23:59:59+00:00"
generated_at: "2026-05-18T05:54:21.227853+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Netflix Q2 revenue $11.08B (+16% YoY), EPS $7.19; raises 2025 revenue & margin guidance

## Summary
- Q2 revenue $11,079M (+16% YoY), diluted EPS $7.19 vs $4.88; operating margin 34.1% vs 27.2%.
- FY2025 revenue forecast raised to $44.8-$45.2B (from $43.5-$44.5B); operating margin target 29.5% F/X neutral (~30% reported).
- Free cash flow forecast raised to $8.0-$8.5B; repurchased 1.5M shares for $1.6B; $12B remaining authorization.
- Ads business on track to roughly double 2025 revenue; Netflix Ads Suite rolled out across all ad markets.
- Q3 guidance: revenue $11.53B, operating margin 31.5%; strong 2H slate includes Stranger Things finale, Wednesday S2, Canelo-Crawford fight.

## SEC filing metadata
- accession: 0001065280-25-000322
- form_type: 8-K
- ticker: NFLX
- cik: 0001065280
- company_name: NETFLIX INC
- filed_at: 2025-07-17T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1065280/000106528025000322/0001065280-25-000322-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1065280/000106528025000322/nflx-20250717.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001065280-25-000322
- JSON: https://secwatch.observer/filing/0001065280-25-000322.json
- Plain text: https://secwatch.observer/filing/0001065280-25-000322.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.