Netflix shares fall 10% on Q2 guidance miss; co-founder Hastings to exit

Netflix forecasted second-quarter (Q2) profit below Wall Street estimates, sending its shares tumbling nearly 10% in premarket trading Friday.Netflix sees Q2 2026 earnings per share of $0.78, versus the Wall Street consensus of $0.84. Netflix sees Q2 2026 revenue of $12.57 billion, which was also below the estimates of $12.64 billion.In a letter to investors released on ​Thursday, Netflix also said Chairman Reed Hastings will not stand for re-election at ⁠its annual meeting in June and will be leaving the streaming service he co-founded 29 years ago as he plans to focus on philanthropy and ​other pursuits.