Netflix reported a 13% increase in revenue, reaching $12.6 billion, and beat expectations on earnings per share. However, the company faced significant backlash as it missed revenue projections in the second quarter and provided a weak forecast for the upcoming quarter. Additionally, Netflix announced plans to reduce the frequency of its viewership reports, opting for yearly updates starting in 2027, which has raised concerns among investors about audience retention. While the streaming giant has been ramping up live events programming and remains a leader in the streaming sector, its stock has seen a decline due to these mixed signals, leading to a drop in shares after the earnings report.