Netflix's second-quarter revenue was $11.08 billion, dropping more than 2% after hours.

In the second quarter, Netflix's revenue was $11.08 billion, slightly higher than the estimated $11.06 billion; earnings per share were $7.19, exceeding the estimated $7.08; free cash flow for the quarter was $2.27 billion, surpassing the estimated $2.17 billion. Netflix expects annual revenue to be between $44.8 billion and $45.2 billion, up from the previous estimate of $43.5 billion to $44.5 billion, with market expectations at $44.56 billion; operating margin is expected to be 29.5%, higher than the previous estimate of 29% and market expectations of 29.7%. Netflix's stock fell more than 2% after hours.