Filing Flows › Merck (MRK) › Q2 2026 › vs Q1 2026
Merck (MRK) Q2 2026 vs Q1 2026 (quarter over quarter)
Merck's revenue rose $321M (+2%) from $16.3B in Q1 2026 to $16.6B in Q2 2026.
Merck, Q2 2026: revenue $16.6B (+5% year over year), operating margin -4.1%, net loss $1.3B, operating cash flow $5.4B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 27.0% | 18.0% | +9.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $16.6B | $16.3B | $321M | +2% |
| Net loss | $1.3B | $4.2B | −$2.9B | -68% |
| Costs & expenses | $17.9B | $20.5B | −$2.6B | -13% |
| Operating costs | $17.3B | $19.8B | −$2.5B | -13% |
| Income tax | $654M | $709M | −$55.0M | -8% |
| Cost of revenue | $4.4B | $4.2B | $200M | +5% |
| Research & development | $9.7B | $12.6B | −$2.9B | -23% |
| SG&A | $2.9B | $2.7B | $204M | +8% |
| Other operating costs | $250M | $333M | −$83.0M | -25% |
| Operating cash sources | $6.7B | $8.2B | −$1.5B | -18% |
| Depreciation | $599M | $581M | $18.0M | +3% |
| Share-based compensation | $298M | $185M | $113M | +61% |
| Working capital & other | $5.8B | $7.4B | −$1.6B | -21% |
| Net loss absorbed | $1.3B | $4.2B | −$2.9B | -68% |
| Operating cash flow | $5.4B | $3.9B | $1.5B | +37% |
| Free cash flow (OCF − capex) | $4.5B | $2.9B | $1.6B | +53% |
| Capital expenditures | $893M | $991M | −$98.0M | -10% |
Questions
How much did Merck's revenue grow quarter over quarter in Q2 2026?
Merck's revenue rose $321M (+2%) from $16.3B in Q1 2026 to $16.6B in Q2 2026.