Netflix's stock is falling in the wake of mixed earnings and a new plan to cut back on the publication of 'What We Watched' reports

Netflix's stock is down around 21% so far this year.

Netflix has been in Wall Street's doghouse lately, and its Thursday afternoon earnings commentary sparked even more investor concern.

The streaming giant narrowed its full-year forecast, reported mixed quarterly results and said it would publish viewership stats less frequently.

The company said that it would start publishing its "What We Watched" report annually in the first quarter, as opposed to bi-annually. The figures in that report provide-often sought-after Netflix $(NFLX)$ viewership stats.

"The goal of separating the publication of the report from our earnings results is to keep the focus on our primary financial metrics - revenue and operating profit," Netflix said in its letter to shareholders.

Shares slid 7.6% after hours on Thursday.

Netflix's stock had fallen 21% on the year through Thursday's close, with Wall Street worried about potentially weaker viewership trends and competition from rival platforms like YouTube and short-form video operators.

Thursday's results arrived as Netflix invests more deeply in live-event broadcasts, podcasts and its advertising business. But analysts have grown more concerned that some viewers may be resisting recent subscription-price increases as they navigate higher costs of living. Others have said the World Cup risked disrupting regular viewing patterns.

The Wall Street Journal reported last week that the company was weighing introducing live channels and offering streaming-service bundles - including with NBC's Peacock.

The streaming platform on Thursday narrowed its full-year revenue forecast to $51 billion to $51.4 billion. Previously, the company expected $50.7 billion to $51.7 billion in revenue. Management kept its operating margin forecast of 31.5%.

For the second quarter, Netflix reported $12.56 billion in revenue, just shy of Wall Street's estimates for $12.58 billion. The company earned 80 cents a share, a penny above expectations.

Netflix said it expects third-quarter revenue of $12.86 billion, below analyst forecasts for $12.99 billion.

-Bill Peters

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July 16, 2026 16:43 ET (20:43 GMT)

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