Netflix Shares Sink 11% After Q2 Results, Narrowing 2026 Guidance
Updated
Updated · CNBC · Jul 16
Netflix Shares Sink 11% After Q2 Results, Narrowing 2026 Guidance
3 articles · Updated · CNBC · Jul 16
Summary
Netflix fell more than 11% Friday, extending an 8% after-hours slide after second-quarter results met expectations but failed to reassure investors.
The selloff centered on a disappointing outlook, including narrowed 2026 revenue guidance and concerns about slower momentum despite in-line revenue and earnings.
Wall Street did not deliver major downgrades, but several banks cut price targets, including Goldman Sachs to $94 from $110, UBS to $115 from $130 and JPMorgan to $85 from $118.
The drop made Netflix a broader market drag as tech and semiconductor stocks were already under pressure, adding to a risk-off tone in futures.