The streaming giant earned $11.1 billion in revenue and $3.1 billion in net income in its second quarter, the company reported Thursday, exceeding Wall Street’s forecasts.
The company also said, in its biannual engagement report, that its subscribers watched more than 95 billion hours in the first half of 2025, a 1% increase from a year earlier.
The top hits from the second quarter included new seasons of recurring shows such as “Ginny & Georgia” and “Squid Game” and new shows such as “Sirens” and “The Four Seasons” and films including Tyler Perry’s “Straw” and “Nonnas,” starring Vince Vaughn. The company’s animated film “KPop Demon Hunters” generated 80 million views and has become one of its most popular in that category.
Netflix’s second quarter also reaffirmed the company’s commitment to its live programming. It announced plans for a reboot of the popular 1980s talent competition show “Star Search” in 2026 and for a middleweight boxing match between Canelo Alvarez and Terence Crawford this year. And its all-female fight night, headlined by Katie Taylor vs. Amanda Serrano, which aired last week, generated 6 million viewers worldwide, a far cry from the numbers generated from the enormous Mike Tyson vs. Jake Paul spectacle last year but a record-setter as the most-watched female sports event in 2025.
“Netflix’s announcements this past quarter make it look like a traditional TV network,” Mike Proulx, a research director at the analytics company Forrester, said in a statement.
The streaming giant is also riding high on this week’s Emmy nominations, racking up 120 across 44 different titles. The out-of-nowhere British drama “Adolescence” nabbed 13 nominations, including best limited series or anthology. (The company’s haul was bested only by HBO Max, which brought in 142 nominations.)
Later this year, the company will release the final season of “Stranger Things,” a new season of “Wednesday” and movies including Guillermo del Toro’s “Frankenstein,” Kathryn Bigelow’s “A House of Dynamite” and a sequel to Adam Sandler’s “Happy Gilmore.”
Overall viewership of Netflix rose in June, according to Nielsen. Netflix’s share of all TV use totaled 8.3%, a jump of close to 1% since May, but still smaller than YouTube, which accounted for 12.8% of all viewing.
Netflix’s results, near the start of the earnings season, are often seen as the harbinger for other corporate results. The company said in its shareholder letter that it was raising its revenue guidance for the full year based on “healthy member growth and ad sales.”
Its ad-supported member tier, which increased to $7.99 from $6.99 at the beginning of the year, has been of great interest to Wall Street, even though the company has previously said it does not expect it to be a big revenue driver in 2025.
