Netflix shares declined more than 5% in early trading on Friday, as investors were disappointed by the streaming giant's revenue forecast raise being driven by a weaker dollar instead of strong customer demand.

Price increases, membership growth and ad business momentum have all helped the streaming giant top projections.

Netflix topped Wall Street’s second-quarter expectations and raised its full-year forecast for revenue. Earnings per share of $7.19 beat analysts’ consensus by a dime, while revenue of $11.079 billion exceeded the Street’s outlook by a much narrower margin.

Sales Netflix’s developing ad-supported subscription tier are growing fast, and could double in the coming year.

Older Netflix shows like Orange is the New Black and Ozark have racked up over 100 million hours so far in 2025, as its Q2 revenue passed $11 billion.

Analysts expect strong Netflix quarterly earnings, even as growth from its password-sharing clampdown slows. Here's what Wall Street is watching.

Surprisingly, Sarandos said the company already did it, on an Argentinian sci-fi show called El Eternauta, a graphic-novel adaptation known as The Eternaut in English-speaking markets. For a scene showing a building collapsing in Buenos Aires, Netflix's tech team worked with the filmmakers to generate AI footage that was used as final footage.

Netflix admitted during its earnings call on Thursday that it used generative AI to create VFX in The Eternaut, a Netflix original from Argentina that was released in April 2025. The company's co-CEO Ted Sarandos said that generative AI was specifically used for a VFX shot in the post-apocalyptic drama,

Netflix reported total Q2 revenues of $11.08 billion, with an operating income of $3.8 billion and margin of 34.1%, beyond last year and market estimates.

Netflix reported its second-quarter 2025 earnings Thursday and, as per its new custom, the results came sans subscriber data.