Netflix Inc (NFLX) - Rapport boursier

In the second quarter of fiscal year 2026, revenue increased 13% year over year.

Netflix kept 33.4% of revenue as operating profit and generated $7.03 billion of cash from operations in the six months ended June 30, 2026.

About $6.6 billion remained after capital spending.

The key operating issue is whether pricing, advertising and membership growth can keep rising faster than the cost of content and other operations.

That matters because the accounting cost of released content increased by $479 million, and slower revenue growth would tighten profit and cash.

Netflix sells ongoing access to entertainment. Members pay monthly membership fees to stream TV series and films, and the service also includes games and live programming. Advertising, consumer products, and experiences add revenue, but those sources were not material in the six months ended June 30, 2026.

That model is large and still growing. Revenue in the quarter ended June 30, 2026 rose 13% year over year to $12.6 billion, and revenue in fiscal year 2025 was $45.2 billion. For investors, the key question is whether Netflix can keep members paying for its entertainment library.

Netflix reports one operating segment, so management runs the company as a single global business rather than as separate profit centers. Within that one segment, the main business group is paid streaming memberships, with smaller activities in advertising and consumer products or live experiences.

The structure is simple. Plan prices ranged from the U.S. Dollar equivalent of $1 to $38 per month as of June 30, 2026, and extra member sub accounts ranged from the U.S. Dollar equivalent of $2 to $10 per month. That simplicity keeps revenue analysis straightforward.

Management is prioritizing global growth within an operating margin target. Netflix is trying to grow memberships without content, marketing, technology, and administrative costs rising just as fast.