BUZZ-Netflix falls as weaker Q3 forecast fuels growth concerns

Netflix shares fell 8.7% to $67.9 in premarket trading after the company forecast Q3 revenue and earnings below Wall Street estimates.

The company sees Q3 revenue of $12.86 billion and EPS of 82 cents, below analysts' forecast of $13.01 billion and 84 cents, per LSEG data, raising concerns over its growth profile.

Netflix also said it will cut publication of its "What We Watched" viewing report to once a year starting in Jan. 2027, after it stopped reporting quarterly subscriber numbers in 2025.

Pivotal Research said this decision is "not a great look when investors are (rightly) focused on weakening engagement trends."

The company reported Q2 revenue of $12.56 billion versus estimates of $12.59 billion.

Fifty-two analysts rate the stock "buy" on average; median PT is $104, according to data compiled by LSEG.

As of the last close, Netflix was down 20.7% year to date.