- Our financial performance remains solid and we’re on track to meet our objectives for the year:
- Q2 revenue grew 13% year over year (+12% on a FX-neutral basis1) to $12.6B, and operating margin was 33%. Both were in-line with our guidance.
- For 2026, we’ve narrowed our forecasted revenue range to $51.0-$51.4B and continue to forecast an operating margin of 31.5%, both consistent with our prior guidance.
- We’re delivering increasing value to our members; engagement is healthy, reflecting the quality, quantity, and variety of our offering:
- Harlan Coben’s I Will Find You is our most viewed new original series debut in 2026 and Swapped is on its way to becoming our second most viewed original animated film ever.
- View hours grew +2% in H1’26 vs. +1.5% growth in 2025, despite the competitive impact of the Winter Olympics and the World Cup this year.
- To better satisfy members, we’re continuing to expand the variety of our entertainment offering with video podcasts, creators like Danny Go! and Salish & Jordan Matter, and cloud TV games.
- The results of our recent price changes are consistent with prior changes and our expectations.
- We are leveraging AI to provide a more personalized, immersive and interactive experience for members, enhance ads capabilities for brands, and improve the quality of our series and films.
- The entertainment industry remains dynamic and competitive. We aim to stay ahead by executing against our three areas of focus: delivering more entertainment value, leveraging technology to improve every aspect of our service, and improving monetization.
For the full shareholders letter, please go here.