弱美元助奈飞“淡季”不淡，Q2利润增超40%再创新高，上调全年指引

Core Viewpoint - Netflix continues to show strong revenue and profit growth in the traditionally weaker second quarter, driven by price increases, robust subscriber growth, and strong advertising performance [1][4][10] Financial Performance - Revenue for Q2 reached $11.08 billion, a year-over-year increase of 15.9%, surpassing analyst expectations of $11.06 billion [4] - Operating profit margin for Q2 was 34.1%, exceeding analyst expectations of 33.3% and up from 31.7% in Q1 [4][10] - Net profit for Q2 was $3.125 billion, reflecting a nearly 45.6% year-over-year increase [5] - Diluted EPS for Q2 was $7.19, a 47.3% increase year-over-year, also beating analyst expectations of $7.08 [6] - Free cash flow for Q2 was $2.267 billion, up 86.9% year-over-year [6] Guidance - Q3 revenue is projected at $11.53 billion, exceeding analyst expectations of $11.28 billion, with full-year revenue guidance raised to $44.8 billion - $45.2 billion [7][12] - Q3 operating profit is expected to be $3.63 billion, above analyst expectations of $3.47 billion [7] - Full-year operating profit margin is now expected to be 29.5%, up from a previous estimate of 29% [7][12] - Full-year free cash flow is projected to be $8 billion - $8.5 billion [8] Growth Acceleration - Q2 revenue and EPS growth accelerated compared to Q1, with revenue growth nearly 16% and EPS growth over 47%, significantly higher than Q1's growth rates [9] - Q2 net profit exceeded $3 billion for the first time, nearly doubling the growth rate from Q1 [9] Regional Performance - Revenue in the US and Canada (UCAN) market for Q2 was $4.929 billion, a 15% year-over-year increase [11] - Revenue in the Europe, Middle East, and Africa (EMEA) market grew 18% year-over-year, with a 16% increase when excluding currency effects [11] Strategic Insights - Netflix's strong performance in Q2 is attributed to a series of popular shows and a weaker dollar, which benefits its international revenue [10]