Netflix GAAP EPS of $0.80 beats by $0.01, revenue of $12.56B misses by $20M

Netflix reported Q2 results with GAAP EPS of $0.80, narrowly beating estimates by $0.01, while revenue rose 13.4% year over year to $12.56 billion but came in $20 million below consensus. The more important market driver is guidance: management forecast Q3 revenue of $12.86 billion versus the $13 billion expected and Q3 EPS of $0.82 versus $0.84 consensus, signaling a softer near-term outlook despite continued double-digit growth. The article also notes Netflix has narrowed its 2026 outlook, which may temper sentiment around forward earnings momentum. Overall, the release is likely to pressure the stock modestly because the earnings beat was small and the revenue/guide misses suggest expectations may have been too high.