Netflix Q2 2026 Earnings Preview Flags Peak Content Costs and Ad Tier at 250 Million Viewers
Netflix guided Q2 2026 revenue to $12.57 billion at a 32.6% operating margin, with management identifying this quarter as the peak period for content amortization growth before a second-half slowdown. The ad-supported tier has grown to over 250 million monthly active viewers globally, up from 190 million in November 2025, as the company projects full-year advertising revenue to roughly double to $3 billion. Actual Q2 results, including any revision to full-year guidance and the first Q3 2026 forecast, will be published after 1:01 p.m. Pacific on July 16, 2026.