Netflix Plunges 12% as Stock Reaches Worst Day Since 2022
Netflix experienced its worst day since 2022, with a 12% decline. The decline came after a revenue miss and the company's shares reached a two-year low. Investors expressed concerns about the company's growth story. Meanwhile, SpaceX also faced a sell-off, leading to a potential $1 trillion loss in market value.
NFLX shares tumbled roughly 11% to a 52-week low, the stock's worst single-day drop in about two years, after the streamer's Q2 2026 report landed with soft forward guidance. Revenue came in at $12.56 billion, up 13% year over year but a touch below Wall Street estimates, while net income rose to $3.40 billion, or $0.80 per share, from $0.72 a year earlier.
The sell-off was driven less by the quarter itself than by the outlook. Netflix guided Q3 revenue to about $12.86 billion, short of the roughly $13 billion analysts had penciled in. Management also said it would stop disclosing granular viewing-engagement metrics, adding to investor unease about the growth narrative just as the stock had been priced for continued acceleration.
The reaction fed a broader risk-off tone across high-multiple tech and growth names. In a separate move the same session, shares of SpaceX slumped sharply, extending a losing streak toward a two-year low. What to watch for NFLX: ad-tier monetization, paid-sharing gains lapping tougher comparisons, and whether the cautious Q3 guide proves conservative when the company reports next quarter.
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