Netflix revenue grew to $11.08 billion in Q2, a 16 percent year-over-year increase that helped drive net profit up 46 percent to $3.1 billion. The company’s operating margin rose to 34.1 percent in Q2, a nearly 7-point rise over Q2 2024 that along with 30 percent full-year guidance puts the streamer on par with tech giants such as Apple (31 percent) and Google (32 percent). Although Netflix no longer provides quarterly subscriber updates, the company did share results of its half-year Engagement Report, indicating members watched more than 95 billion hours of Netflix content during the first six months of the year.

Variety called it a “remarkable second quarter” for the streamer, which beat its own and analysts’ expectations. As a result of the strong performance, Netflix boosted its 2025 forecast by more than $1 billion, to revenue of $44.8 billion to $45.2 billion, as summarized in its shareholder letter, which primarily attributes the buoyant outlook to the “weakening of the U.S. dollar vs. most other currencies, plus healthy member growth and ad sales.”

“Netflix says its ‘U.S. upfront is nearly complete as we have closed the vast majority of our deals with the major agencies,’ though it did not disclose any specific figures,” writes Variety. Netflix did note, however, that it is pleased with its upfront sales, which put it on track to achieve its “goal to roughly double ad revenue this year.”

The company has completed the rollout of the Netflix Ads Suite, its in-house first-party adtech platform and says it will enable “better measurement, enhanced targeting, innovative ad formats and expanded programmatic capabilities.”

Despite the robust report, Netflix shares dipped roughly 1 percent in after-hours trading, a phenomenon CNBC attributed to the fact that “operating margin in the second half of 2025 will be lower than the first half due to higher content amortization and sales and marketing costs associated with our larger second half slate.”

“The next two quarters feature a robust calendar of events, shows and films, such as the second season of ‘Wednesday,’ the finale of ‘Stranger Things,’ ‘Happy Gilmore 2’ and Guillermo del Toro’s ‘Frankenstein,’” CNBC reports.

The company’s older Netflix Originals continue to do well, too, according to the Engagement Report, which says shows including “Orange Is the New Black,” “Ozark” and “Money Heist” all had over 100 million hours viewed in the first half of 2025.

In Q4 2024 Netflix reported nearly 302 million paid subscribers globally.