Netflix Q2 2026 Earnings Preview

Visible Alpha consensus is expecting $12.6 billion in revenue for Q2 and $51.3 billion for FY 2026. Consensus expects the operating margin to be 33% in Q2 and to be 32% for FY 2026, down from earlier expectations of 33% due to assumptions about higher expenses. According to consensus, analysts now expect the company to generate the 32% margin, on expected revenue of $51.4 billion and $16.3 billion in operating profit in FY 2026. Q2 preview Netflix (NFLX) expectations into Q2 have remained stable all year. Visible Alpha consensus is expecting $12.6 billion in revenue for Q2 and $51.3 billion for FY 2026. Revenues are expected to be supported by continued new membership.