As investors fear Netflix’s viewer engagement metrics are declining, the streaming giant reported second-quarter 2026 revenue that was in line with Wall Street forecasts.

Netflix reported revenue of $12.56 billion, up 13.4% year over year, and net income of $3.4 billion (which translates to 80 cents per share). On average, Wall Street analysts were expecting $12.59 billion and earnings per share of 79 cents, according to LSEG Data & Analytics.

The company said viewing hours grew 2% in the first half of 2026, faster than the 1.5% growth in the comparable period of 2025, “despite the competitive impact of this year’s Winter Olympics and World Cup.” Netflix released its “What We Saw” report for the first half of 2026, which it publishes twice a year. Going forward, Netflix “will move to publishing this report annually in the first quarter, beginning in 2027.”

According to the company’s letter to shareholders: “The goal of separating the release of the report from our earnings results is to maintain focus on our main financial metrics: revenue and operating profits. With this change, we will continue to report industry-leading total viewing hours and title-by-title data (including our weekly lists of the top 10 movies and series in more than 90 countries).”

“Overall, our engagement remains healthy and, as with everything we do, we are working hard to improve every day,” Netflix said.

Netflix shares fell more than 8% in after-hours trading on Thursday.

The second-quarter results reflect recent price increases at Netflix, including its three US plans, marking its second price increase in just over a year.

On April 22, Netflix’s board of directors authorized the repurchase of an additional $25 billion in common stock, in an attempt to boost the stock price.

Pictured above (left to right): Louis Partridge as Tewkesbury, Millie Bobby Brown as Enola Holmes, Himesh Patel as Dr. Watson in Netflix’s “Enola Homes 3.”