Netflix, Inc. (NFLX) reported second-quarter 2025 revenues of $11.079 billion, achieving 16% year-over-year growth, surpassing analyst expectations. The company has raised its full-year revenue forecast to a range of $44.8-$45.2 billion, indicating anticipated growth of 15%-16%. Netflix’s subscriber growth and advertising revenue also saw significant increases, with expectations to double ad revenues in 2025.
Year-to-date, Netflix shares have surged 35.7%, while competitors like Apple, Amazon, and Disney have seen declines or modest increases. Netflix’s operating margin target for 2025 has been raised to 29.5% on a currency-neutral basis, up from 29%. The company projects third-quarter revenues of $11.526 billion, reflecting a 17% growth rate.
With a strong content pipeline and expansions into live programming, Netflix is poised for sustained growth despite high valuations, trading at a forward price-to-sales ratio of 10.81 compared to the broader industry’s 4.48. The consensus revenue estimate for 2025 stands at $44.85 billion, with an anticipated earnings per share increase of 30.16%.
