NFLX
Netflix Q2 FY26 earnings
Revenue $12.6B, up 13% from a year ago. Net income $3.4B.
Netflix grew revenue 13% to $12.6B in the June quarter. United States and Canada was $5.4B, 43% of revenue, up 10%. Net income came in at $3.4B, a 27% margin.
UCAN: $20.0B in FY25, three times FY17.
Netflix's United States and Canada region brought in $20.0B in FY25, three times the $6.7B of FY17, the first year the region split was filed. The four regions sum to total revenues to the dollar in every year drawn.
Where the revenue came from
| Segment | Amount | % of revenue% | Y/Y |
|---|---|---|---|
| United States and Canada | $5.4B | 43.2% | +10% |
| Europe, Middle East, and Africa | $4.0B | 32.1% | +14% |
| Latin America | $1.6B | 12.6% | +21% |
| Asia-Pacific | $1.5B | 12.0% | +16% |
The quarter, line by line
| Line | Amount | % of revenue% | Y/Y |
|---|---|---|---|
| Revenue | $12.6B | +13% | |
| Cost of revenue | $6.0B | 48.1% | +13% |
| Gross profit † | $6.5B | 51.9% | +13% |
| Operating expenses † | $2.3B | 18.6% | +18% |
| Operating income | $4.2B | 33.4% | +11% |
| Pretax income | $4.1B | 32.4% | |
| Income tax | $667M | 5.3% | +32% |
| Net income | $3.4B | 27.1% | +9% |
Effective tax rate: 16.0%. That is tax as a share of pretax income. The 5.3% in the column above is tax as a share of revenue, which is not a tax rate.
† The filing doesn't print this line. We calculated it from the filed figures; it adds up to the dollar.
The last 8 quarters
| Quarter ended | Revenue | Net income | Net margin |
|---|---|---|---|
| Jun 30, 2026 | $12.6B | $3.4B | 27.1% |
| Mar 31, 2026 | $12.2B | $5.3B | 43.1% |
| Dec 31, 2025 | $12.1B | $2.4B | 20.1% |
| Sep 30, 2025 | $11.5B | $2.5B | 22.1% |
| Jun 30, 2025 | $11.1B | $3.1B | 28.2% |
| Mar 31, 2025 | $10.5B | $2.9B | 27.4% |
| Dec 31, 2024 | $10.2B | $1.9B | 18.2% |
| Sep 30, 2024 | $9.8B | $2.4B | 24.1% |