Financial Metrics & Outlook - Netflix's operating margin is forecasted at 29% [1] - The company aims to be judged by normal financial metrics [4] - Focus shifts to content spending, efficiency improvements, cash flow, and earnings in place of subscriber numbers [5] Subscriber & Engagement Analysis - Netflix will no longer report subscriber numbers [1] - Engagement, especially with a strong second-half lineup, will be a key metric [1] - Subscriber growth in the US is largely saturated [5] Ad Revenue & Strategy - Netflix is focused on growing ad revenue on its platform [3] - The company is embracing live events like sports to boost the ad business [3] - Netflix is exploring ad-supported tiers, potentially generating more revenue per user than higher-priced, ad-free tiers if viewership is high enough [9] Competition - Competition from newer entrants like YouTube and TikTok is a point of interest [6] Stock Performance - Netflix's stock is up 41% year-to-date in 2025 [4] - There are questions about whether current expectations are already priced into the stock [4]

While rival media companies are unloading assets and cutting costs, Netflix continues to thrive https://t.co/XVs2R4jlmM ...

Group 1 - The core viewpoint of the article highlights Netflix's strong financial performance in the second quarter, with revenue and earnings exceeding expectations [1] - Netflix reported a revenue of $11.08 billion for the second quarter, surpassing the estimated $11.06 billion [1] - The company achieved earnings per share of $7.19, which also exceeded the forecast of $7.08 [1]

Core Insights - Adams Diversified Equity Fund, Inc. reported a total return of 7.8% on its net asset value for the first half of 2025, outperforming the S&P 500 Index's return of 6.2% and the Morningstar U.S. Large Blend category's return of 5.7% [1] - The Fund's market price total return for the same period was 12.4% [1] Performance Summary - Annualized comparative returns as of June 30, 2025, show the following: - 1 Year: NAV at 15.1%, market price at 18.0%, Morningstar U.S. Large Blend at 13.6%, S&P 500 at 15.2% - 3 Year: NAV at 20.5%, market price at 24.0%, Morningstar U.S. Large Blend at 18.2%, S&P 500 at 19.7% - 5 Year: NAV at 17.2%, market price at 19.2%, Morningstar U.S. Large Blend at 15.5%, S&P 500 at 16.6% - 10 Year: NAV at 14.3%, market price at 15.1%, Morningstar U.S. Large Blend at 12.3%, S&P 500 at 13.7% [4] Net Asset Value - As of June 30, 2025, the Fund's net assets were $2,804,959,277, down from $2,938,344,145 a year earlier - Shares outstanding decreased from 124,051,735 to 120,125,125 - Net asset value per share decreased from $23.69 to $23.35 [6] Equity Portfolio Holdings - The ten largest equity portfolio holdings as of June 30, 2025, accounted for 40.8% of net assets, with the following key positions: - Microsoft Corporation: 7.7% - NVIDIA Corporation: 7.5% - Apple Inc.: 6.1% - Amazon.com, Inc.: 4.1% - Alphabet Inc. Class A: 3.4% - Meta Platforms, Inc. Class A: 3.3% - Broadcom Inc.: 2.6% - JPMorgan Chase & Co.: 2.5% - Adams Natural Resources Fund, Inc.: 1.9% - Netflix, Inc.: 1.7% [7] Sector Weightings - As of June 30, 2025, sector weightings were as follows: - Information Technology: 32.7% - Financials: 13.8% - Consumer Discretionary: 10.7% - Communication Services: 9.8% - Health Care: 9.2% - Industrials: 8.1% - Consumer Staples: 5.8% - Energy: 3.2% - Utilities: 2.4% - Real Estate: 2.1% - Materials: 1.7% [9]

Exhibit 99.1 July 17, 2025 Fellow shareholders, | (in millions except per share data) | | Q2'24 | | Q3'24 | | Q4'24 | | Q1'25 | | Q2'25 | | Q3'25 Forecast | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Revenue | $ | 9,559 | $ | 9,825 | $ | 10,247 | $ | 10,543 | $ | 11,079 | $ | 11,526 | | Y/Y % Growth | | 16.8 % | | 15.0 % | | 16.0 % | | 12.5 % | | 15.9 % | | 17.3 % | | Operating Income | $ | 2,603 | $ | 2,909 | $ | 2,273 | $ | 3,347 | $ | 3,775 | $ | 3,625 | | Operating ...

Core Insights - Company reported Q2 revenue of $11.08 billion, slightly above analyst expectations of $11.06 billion [1] - Full-year revenue is projected to be between $44.8 billion and $45.2 billion, an increase from the previous estimate of $43.5 billion to $44.5 billion [1]

isn't I don't know if that's awesome. Right. But Zentner will have some Texas charm on that.So I'll leave that to I'll leave that to her. Yeah. >> AP welcome home.Thanks for the time today. >> Great. Yeah.Great to be with you. >> Adam Parker. We, of course, are counting down to Netflix earnings after the bell.Joining us now with what to watch is big technology founder Alex Kantrowitz and Netflix shareholder Jason Knight. Both are CNBC contributors. Afternoon, gentlemen.Good to see you both. >> Good to see y ...

Sean McNelte is creator and writer of the Wake Up Entertainment Business newsletter at the Ankler. And Sean, it's great to see you. Um, look, it's almost like there's nothing to talk about because they're just firing on all cylinders.So, you know, what am I what am I missing. What what could be around the corner. Or is it, to quote the analyst last hour, has Netflix just become TV now.Uh, that's certainly true. You're talking about a service that's in probably about close to 90 million US homes, which is pr ...

Financial Performance - Netflix's Q2 revenue increased by 13% last quarter [1] - Morgan Stanley upped Netflix's price target to $450, approximately 12% upside [1] Generative AI Impact - Generative AI can substantially reduce content production costs for animated films and scripted television series [2] - Generative AI can enhance personalization and curation, improving user engagement and pricing power [3][4] - Morgan Stanley's bull case projects Netflix's margins reaching 50% over time due to Gen AI [3] Market Opportunity & Competition - Netflix has over 300 million members, while there are over 700 million connected households in its operating markets, indicating further growth potential [6] - Netflix distributed a linear network in France called TF1 to grow engagement and reach [7] - YouTube and Netflix are increasingly defining television for the global audience [12] Strategic Evolution - Netflix's product is evolving to include other kinds of programming, potentially including sports, to be perceived as TV [8] - Consumers turn to Netflix to decide what to watch, unlike other streaming services except for YouTube [10][11]

Core Viewpoint - Netflix Inc. has experienced significant stock growth, rising nearly 94% over the past year and over 40% year to date, but there are signs of potential turbulence ahead of its upcoming earnings report [1][2]. Financial Expectations - The company is expected to report earnings per share of $7.06 on revenue of $11.04 billion, driven by password-sharing crackdowns, advertising expansion, and a strong content slate [2]. Technical Analysis - Netflix's stock is currently above its five-day, 20-day, and 50-day Exponential Moving Averages (EMAs), indicating a bullish trend, but it is trading below its 8-day and 20-day Simple Moving Averages (SMAs), suggesting potential near-term bearish pressure [3]. - The divergence in moving averages indicates that traders may be taking profits ahead of earnings, possibly anticipating a disappointment or simply cashing in on recent gains [4]. Momentum Indicators - The Moving Average Convergence Divergence (MACD) is at 10.30, indicating strong bullish momentum, while the Relative Strength Index (RSI) is at 51.13, suggesting that the stock is neither overbought nor oversold, allowing for a sharp post-earnings move in either direction [5]. Price Action and Potential Outcomes - Investors are advised to maintain a tight stop as the stock approaches its all-time high of $1,341.15; a strong earnings report could lead to a breakout, while a minor miss might result in a pullback towards the 50-day SMA at $1,225.70 [6].