Netflix Stock Tumbles 8% Overnight as Q3 Guidance Misses, CFO Emphasizes Global Growth Runway

Netflix stock tumbled 8% overnight Thursday after the company posted Q2 results in line with expectations but offered Q3 and fiscal 2026 guidance that missed analyst estimates. The company guided for Q3 earnings of $0.82 per share and revenue of $12.86 billion, below consensus expectations of $0.84 per share and $13 billion in revenue, according to Fiscal AI.

CFO Spencer Neumann emphasized Netflix's long-term expansion opportunity, highlighting that the company has captured only 7% of its estimated 800 million addressable households globally and represents just 5% of global TV view share. For fiscal 2026, Netflix updated its full-year revenue guidance to between $51 billion and $51.4 billion.