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Netflix shares fall 38% below record high after Q3 outlook
Netflix reported Q2 revenue of $12.56 billion, but its Q3 2026 revenue guidance range of $12.86 billion is below about $13 billion expected by analysts.
Netflix shares are trading sharply lower after giving investors a disappointing outlook, with the stock down about 38% from its record high of $134.12 set on June 30, 2025. On September 2, the shares snapped a two-day losing streak to settle at $82.73 on the Nasdaq, and the article notes the stock is also down 9% year to date.
LiveMint Markets reports that Netflix’s Q2 results were broadly in line, but Q3 2026 revenue guidance weighed on sentiment. Q2 revenue rose 13.4% year over year to $12.56 billion, while operating margin slipped to 33.4% from 34.1% a year earlier.
For Q3, Netflix expects revenue growth of 11.7% to $12.86 billion, which the article says is below consensus estimates of around $13 billion. After the Q2 results, the stock fell about 9% cumulatively over the following two sessions.
The report also points to competition and growth visibility as key concerns, adding that media reports suggest Netflix is planning a strategy shift to increase its subscriber base. On the technical side, Vipin Kumar of Globe Capital Market said the stock appears to be rebounding from a support area near $68 to $70 and could extend toward a resistance zone at $88 to $92. Aditya Thukral of AT Research and Risk Managers noted the stock’s short-term uptrend and a potential $85 outcome after a breakout from a symmetrical triangle.
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