Filing Flows › Equinor ASA (EQNR) › Q3 2025
Equinor ASA (EQNR) Q3 2025 earnings results (third quarter 2025)
6-K filed Oct 29, 2025
Equinor ASA (EQNR) reported revenue of $26.0B for the third quarter 2025 (Q3 2025), +2% from a year earlier. Operating margin was 20.2%, net loss $204M (0.8% of revenue).
Equinor ASA, Q3 2025: revenue $26.0B (+2% year over year), operating margin 20.2%, net loss $204M, operating cash flow $6.3B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.0B | — | +2% |
| Operating profit | $5.3B | — | — |
| Net earnings | −$204M | — | — |
| Operating cash flow | $6.3B | — | -2% |
| Free cash flow | $2.9B | — | -14% |
What changed
Revenue was $26.0B in Q3 2025, up 2% year over year.
Operating profit was $5.3B, a 20.2% margin (down 6.9 points year over year). Operating profit fell $1.6B even though revenue rose $0.60B versus a year earlier, so costs grew faster than sales. Total costs grew 12% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+29%). The quarter ended with a net loss of $0.20B. Net interest and other expense of $0.60B was the main reason.
Operating cash flow was $6.3B (down 2% year over year). Non-cash charges added back $2.5B of depreciation and amortization. Working capital and other items added $4.0B. Capital expenditures of $3.4B left free cash flow of $2.9B.
Questions
What was Equinor ASA's revenue in the third quarter 2025?
Equinor ASA (EQNR) reported revenue of $26.0B for the third quarter 2025 (Q3 2025), +2% from a year earlier.
Was Equinor ASA profitable in the third quarter 2025?
Operating profit was $5.3B (20.2% of revenue) and net loss $204M.
Source: Equinor ASA 6-K on SEC EDGAR.