Netflix's (NASDAQ:NFLX) second-quarter earnings beat expectations on top and bottom lines, and the streaming giant raised full-year revenue expectations. Shares of the company were down nearly 5% by midday on Friday.

What to expect from Netflix Q2 earnings and a Cover Story deep dive on Trump's war on truth are the features in today's 'Daily Variety' podcast.

Netflix had success with "Squid Game" in the second quarter, but investors and analysts want to know what's next outside the company's key franchises.

In its second-quarter earnings report, the streaming giant disclosed operating income of $3.8 billion and a margin of 34.1 percent, up double digits from a year ago.