Netflix Hovers Near $73 as Engagement Fears Intensify Before July 16 Earnings

Netflix shares have fallen toward $73, down 43% from recent highs and roughly 20% year-to-date, as investor worries over declining U.S. streaming engagement mount ahead of Q2 results. The selloff accelerated after reports showed top shows losing 30-70% of viewers between seasons and Netflix’s share of U.S. streaming time dropping to 17% from 21%. Despite the pressure, management has reaffirmed 12-14% revenue growth and 31.5% operating-margin targets for 2026, supported by 325 million subscribers and a raised $12.5 billion free-cash-flow goal.