For the second quarter of the calendar year, the streaming giant reported revenue of $11.08bn, up 15.9% on the $9.56bn tally for the second quarter of 2024. Operating income was up 45% from the previous year’s second quarter, to $3.78bn, and earnings per share were $7.19, compared to $4.88 for the previous year’s quarter. 

The biggest revenue increases came from the Asia-Pacific region, with a 23% jump to $1.26bn, and EMEA, with a 15% boost to $3.40bn. 

In its letter to shareholders, Netflix, which no longer reveals subscriber numbers in its quarterly results, noted the success of series including the third season of Squid Game, with 122m views, and international shows such as the UK’s Dept Q (28m views) and Denmark’s Secrets We Keep (35m views). Popular features included Tyler Perry’s Straw (109m views), Nonnas (60m views) and German thriller Exterritorial (89m views). 

In an earnings interview addressing questions from analysts, Sarandos mentioned feature releases for the rest of the year including Happy Gilmore 2, Wake Up Dead Man, Noah Baumbach’s Jay Kelly, Guillermo del Toro’s Frankenstein and Kathryn Bigelow’s A House of Dynamite. 

The co-CEO also expressed optimism about the use of generative AI in areas such as VFX, saying the technology “represents an incredible opportunity to help creators make films and series better, not just cheaper.” 

“It used to be that only big-budget projects would have access to advanced visual effects like de-aging,” Sarandos went on. “That’s just no longer the case.” 

At the same time as announcing its results, Netflix released its report on viewing over the first half of calendar 2025. 

UK miniseries Adolescence was the streamer’s most watched show over the period, with 145m views. The second season of Squid Game notched up 117.3m views and the final season of the South Korean smash reached 72m views in its first four days. 

Back In Action was the most viewed feature over the first half, with 165m views, followed by Straw (103m), The Life List (96m) and Exterritorial (88m). Other non-English language films performing well included Mexico’s Counterattack (71m views), France’s Ad Vitam (70m) and the Netherlands’ iHostage (57m).