NFLX Q3 2025 Earnings — Income Statement Breakdown
For its Q3 2025 period (ending 2025-09-30), NFLX reported revenue of $11.5B, gross profit of $5.3B (46.4% gross margin), operating income of $3.2B, and net income of $2.5B (22.1% net margin). The flow of revenue into costs and profit is visualized below.
What changed
NFLX was profitable; revenue grew 17.2% year over year, and EPS missed consensus by $0.10.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +17.2% | +7.8% | Not available |
| Quarter over quarter | +3.9% | −18.5% | Not available |
EPS was $0.59 versus $0.69 expected.
NFLX Q3 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $11.5B | 100% |
| Cost of Revenue | −$6.2B | 53.6% |
| Gross Profit | $5.3B | 46.4% |
| Research & Development | −$854M | 7.4% |
| Selling, General & Administrative | −$1.2B | 10.8% |
| Operating Income | $3.2B | 28.2% |
| Other Income, net | −$139M | 1.2% |
| Income Tax Expense | −$562M | 4.9% |
| Net Income | $2.5B | 22.1% |
Source: original SEC filing (filed 2025-10-21). Accession 0001065280-25-000404. Data normalized by EarningsFyi.