Worry

Netflix on Thursday reported higher revenues and profit in the second quarter as it sought to assure investors about its growth prospects.

The streaming giant reported revenue of $12.6 billion in the second quarter, up 13% from a year ago. Net income during the period rose 9% to $3.4 billion.

Netflix said it expects revenue to grow 12% in the third quarter, but lowered its 2026 revenue forecast to $51 billion from $51.4 billion.

The results were roughly in line with what analysts had predicted and were driven by recent price increase and growth in advertising revenue. The latter is expected to reach $3 billion this year, the company said.

In a presentation with analysts, Netflix executives touted global expansion plans.

“We’re entertaining an audience approaching a billion people with still lots of room to grow into our addressable market on every measure,” said Spencer Neumann, Netflix’s chief financial officer, in the earnings presentation. “We believe we’ve got lots and lots of runway for solid growth ahead of us.”

Those comments appeared intended to assuage investors who’ve grown concerned that people could be spending less time on the streaming service as rivals like YouTube gain market share.

Netflix’s share of TV viewing time in the U.S. has steadily declined in recent months as rivals have gained market share, according to Nielsen data.

The streamer represented 7.8% of all TV viewing in the U.S. in April — the lowest percentage since May 2025. It was 7.5% in April 2025, Nielsen said.

By comparison, YouTube has seen its share of the streaming audience grow. YouTube’s TV viewing share in April rose to 13.4%, up from 12.4% a year earlier, Nielsen said.

Some investors fear that if viewership is down, subscribers could cancel the service, which would negatively affect the platform’s growing advertising business. It could also undercut Netflix’s ability to raise prices in the U.S. and other countries.

Those worries have caused Netflix’s stock price to plummet 41% in the last year. The stock closed on Thursday at $74.35 a share, up 1%. In after hours trading, the stock fell 8%.

“The engagement elephant continues to rear its head and investors are on edge that an earlier price hike in a seasonally tough period and lighter content slate could have driven more churn than usual,” wrote Morgan Stanley Research analysts in a research note.

On Thursday, Netflix said in a letter to shareholders it has a sophisticated understanding of its consumers and “we know not all hours are equal” and that engagement on its platform is “healthy.”

“The entertainment industry remains dynamic and competitive,” Netflix told shareholders. “We aim to stay ahead by executing against our three areas of focus: delivering more entertainment value, leveraging technology to improve every aspect of our service, and improving monetization.”

The Los Gatos-based company said it plans to allocate more than 5% of its content spend on live programming this year. Live content has been a key driver for subscriptions, accounting for six of the top 10 new member sign-up days over the last five years, the company said.

In the first half of 2026, Netflix said members watched more than 97 billion hours, up 2% from a year ago. Among the most popular shows: the crime thriller “I Will Find You,” which had 87 million views; and the romantic comedy film “Voicemails for Isabelle,” which garnered 71 million views.

Netflix has been adding new types of content to its platform, including video podcasts to help increase engagement with subscribers during the day.

As part of the diversification efforts, the platform has expanded its portfolio of live programming over the years, including adding NFL games and streaming Major League Baseball’s opening day game.

In 2022, Netflix had also faced investor pressure when it reported declining subscribers for the first time in more than a decade. That pushed the company to delve into other areas including advertising, gaming and cracking down on password sharing.

From California Rock, 1,100 feet above Yosemite Valley, the crown jewel of America’s beloved national parks spreads out beneath you.

The jaw-dropping north face of 8,800-foot Half Dome towers to the east. The silky green ribbon of the Merced River meanders through the valley floor below, astonishingly lush during the spring snow melt. Even cars in the parking lots look fabulous, their roofs and windshields sparkling in the golden sunshine like so many tiny gems.

And then you realize those gems are everywhere — as far as the eye can see — because every single parking space in the valley is full.

On the way down from that vantage point, Upper Yosemite Falls Trail, which was practically empty at 9 a.m., had turned into a human conveyor belt by 11 a.m. Hundreds of people trudged up the steep switchbacks in single file.

People hike the Upper Yosemite Falls trail in Yosemite National Park on Saturday.

(Eric Thayer/Los Angeles Times)

That’s what’s giving parks enthusiasts heartburn this spring.

Even before the summer rush, which begins in earnest in a few days with Memorial Day weekend, California’s most visited national park is seeing enormous crowds. There have been more than 836,000 visits so far in 2026, according to National Park System data — about 100,000 more than this time last year.

The reason, according to parks advocates, is the Trump administration’s decision to abandon a reservation system implemented in 2020 to limit crowds during the COVID-19 pandemic. The system has been used on and off since then to help control the number of visitors and preserve a sense of natural tranquility.

On Saturday, there seemed to be an uneasy balance: The crowds were large but well-managed, with some visitors worried about the months ahead.

On the valley floor, as hundreds of people pressed together to gaze in awe at Lower Yosemite Falls, Jeff Wilson of Folsom said he was having flashbacks to 2023, the last time the park allowed entry without permits.

“It was just absolute bumper-to-bumper traffic all the way around the loop. Zero places to park, cars just circling all day, and people pulling off into just random spots,” Wilson said. “It was an absolute mess.”

People walk to the bottom of Yosemite Falls in Yosemite National Park on Saturday.

(Eric Thayer/Los Angeles Times)

There were echoes of that everywhere on Saturday. Parking lots filled up fast — the lot at Curry Village was full by 8 a.m. — and cars were stashed in every unmarked flat spot their owners thought they could get away with.

Once people found somewhere to leave their cars, they didn’t dare move them. Most relied on the free shuttle that circles the valley floor. The big white buses were jammed to capacity by midday, as were the bus stops, where people often had to wait for several shuttles to pass before one arrived with room.

Still, the lines were reasonable to enter the park and pay the fee — $35 per car for U.S. residents and President Trump’s new $100 per person extra charge for foreigners. That means a family of four from abroad would have to pay $435.

People who arrived very early breezed through the toll booths, and even those who showed up after 9 a.m. said they waited only about 15 to 30 minutes. That was a dramatic improvement over recent weekends, when social media lit up with complaints of hour-and-a-half ordeals.

Traffic flowed slowly but smoothly on the main paved roads around the valley floor. There was the occasional outburst as angry drivers leaned heavily on their horns, filling the peaceful meadow with a sudden blast of urban agita, but in general, things remained calm.

“We thought it would be more crowded,” said Laura Yuen, from the Bay Area. “But it’s actually manageable. We’re on bikes, and people are making room and are courteous.”

Arriving early and stashing the car was key for Yuen and her companion.

“A couple of sights have been crowded — those were the really touristy spots. But other than that, it has been beautiful,” she said. “This is a great time of year to come.”

Whether the good times will last once the high season begins is the question.

People board a shuttle in Yosemite National Park on Saturday.

(Eric Thayer/Los Angeles Times)

Since Trump returned to office in 2025 and unleashed Elon Musk’s Department of Government Efficiency on the federal work force, the National Park System has lost nearly a quarter of its employees to layoffs and buyouts, according to the nonprofit National Parks Conservation Assn.

And the Trump administration has proposed about 3,000 more job cuts — roughly another 25% — in the coming year. Trump has also proposed slashing nearly $800 million from the park system’s roughly $3-billion operating budget.

All of which risks tipping the delicate balance into chaos and gridlock, critics warn.

By 2 p.m., a flashing sign at the entrance to Curry Village advised that the parking lot was full and directed people to try their luck elsewhere.

Still, dozens of drivers crept around the lot, hoping to pounce if someone pulled out. It looked like an especially depressing way to spend an afternoon surrounded by some of the most celebrated natural wonders on Earth.

Kunal Khandwala of San José was among those searching for a spot until he gave up and pulled over, blocking a few cars but ready to move if their owners returned and needed to leave.

His friends had hopped out and joined the line at the Curry Village Pizza Deck, waiting to grab some food and go find a quiet spot for a picnic — far from the village.

The situation was “testing,” Khandwala said, but not intolerable if you relaxed and remained patient.

And anything was better than subjecting yourself to the shuttle, he joked.

People raft down the Merced River with Yosemite Falls in the background in Yosemite National Park on Saturday.

(Eric Thayer/Los Angeles Times)

“The waits are insane,” he said, pitying people who had only a day in the park and were hoping to hit all of the highlights by bus. “There’s no way. You’re not going to see everything you want if you rely on the shuttle.”

Parks officials were unable to provide the number of visitors who arrived on Saturday, or compare that to the crowds on recent weekends.

But with Memorial Day looming, this weekend felt like the calm before the storm.

Which is why Wilson, the frequent visitor from Folsom, said he is “very, very much pro-reservation. It is a hassle — you have to plan ahead — but it just makes it a better experience for everybody.”

He had also brought his bike, which seemed to be the best way to elude the masses.

“This is my favorite place in the world, no matter what the crowds are like,” he said before pedaling off. “As long as you can get in, come, have a good time, you’ll love it.”

SIX in ten Brits say free roaming is their top priority when choosing a phone plan – with a third being stung by additional fees.

A study of 2,000 adults revealed of the 34 per cent who had been charged, 22 per cent had to fork out £50 or more extra from a single trip – with 1.5 million travellers facing bills of over £100.

Nearly a quarter (24 per cent) admitted they had no idea different charges applied to varying countries in Europe.

Almost half (48 per cent) who were hit with surprise additional costs due to roaming said it had negatively affected their holiday as a result.

The research was commissioned by iD Mobile, which has teamed up with the former King of the Jungle and I’m a Celebrity… South Africa returnee, Harry Redknapp, to beat the sting of holiday bill shock.

A spokesperson for the network provider, which offers inclusive roaming as standard in 50 European destinations, said: “Being hit with a huge roaming bill when you return home is genuinely frustrating.

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“Our research shows just how many people are unsure about roaming charges, how they work, and where they apply.”

The study also found, of those who have been charged with unexpected roaming fees, 90 per cent were shocked by the amount.

Meanwhile 54 per cent said they do not understand how such charges are calculated on their current mobile phone plan, including what they are charged for calls, texts and data when abroad.

Over a quarter (28 per cent) said they did not understand what mobile roaming is and how the charges would work when travelling abroad.

When using their phone abroad, 42 per cent said it left them feeling anxious, regularly checking their usage (29 per cent) or actively limiting what they do to avoid unexpected costs (13 per cent).

Tactics to avoid unexpected fees included switching off mobile data entirely (40 per cent) and not sending photos or videos to family and friends (20 per cent).

The study also found 30 per cent felt disconnected from friends and family while on holiday abroad, according to OnePoll.com figures.

In a bid to stay connected, for 21 per cent, finding Wi-Fi would be the first thing they would do.

ATM withdrawal or foreign transaction card fees were the most unexpected costs (25 per cent), as well as hotel extras for pool towels, Wi-Fi and safe hire (16 per cent).

A spokesperson for iD Mobile, which partnered with Harry Redknapp for a campaign video which features the football star fighting the sting of roaming bills with his ‘Roaming Sting Repellent’, added: “People feel it when it comes to using their phones abroad.

“Many travellers don’t know what’s included in their phone plan, or when charges might apply, until they’re already away.

“That confusion is clearly influencing how people behave on holiday, with some cutting back on phone use entirely to avoid the risk of unexpected costs.

“No one should have to worry about being stung by their phone bill while trying to enjoy a well-earned break.”