Netflix fell over 5%, investors' expectations for the second quarter performance may be too high.

Netflix fell more than 5% on Friday, closing at $1205.53. According to the news, the financial report shows that Netflix's Q2 revenue increased by 15.9% year-on-year to $11.08 billion, better than the analysts' general expectation of $11.06 billion. Diluted earnings per share were $7.19, better than the analysts' general expectation of $7.08 and higher than $4.88 in the same period last year. Despite the key financial indicators exceeding investor expectations, the company's stock price weakened. Analysts believe that although Q2 performance exceeded expectations, it did not meet the high expectations set earlier. The negative performance of the financial report may be partly due to the fact that most of the revenue exceeding expectations came from currency exchange rates rather than membership numbers or monetization, or it may be due to limited growth in viewing hours in the second quarter, although the company has indicated strong projects in the second half of the year.