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

Netflix shares came into earnings on a tear, having risen more than 40% in 2025 to date after a banner 2024. They closed Thursday at $1,274.17, down only a bit from their all-time high of $1,341.15 established in June.

Netflix continues to chug along, growing its revenue and profit margins even as its competitors struggle to keep their streaming services profitable. Netflix reported total revenues of $11.1 billion, operating income of $3.8 billion and a margin of 34.1 percent, all up double digits from a year ago.