Netflix Inc

NFLX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Netflix Earnings: Stellar Results Had Areas of Softness; Currency Tailwinds Drive Guidance Raise

Matthew Dolgin

Jul 18, 2025

Netflix again posted fantastic results, with second-quarter sales up 16% year over year and the operating margin increasing by 7 percentage points, to 34%. However, sales would have missed guidance if not for a currency tailwind, and lower content expenses, which won't persist, drove profits.

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Netflix Inc

Netflix Earnings: Stellar Results Had Areas of Softness; Currency Tailwinds Drive Guidance Raise

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