Filing Flows › Netflix (NFLX) › Q2 2026 › vs Q1 2026
Netflix (NFLX) Q2 2026 vs Q1 2026 (quarter over quarter)
Netflix's revenue rose $310M (+3%) from $12.2B in Q1 2026 to $12.6B in Q2 2026. Operating margin 33.4% against 32.3% (+1.1 pts).
Netflix, Q2 2026: revenue $12.6B (+13% year over year), operating margin 33.4%, net earnings $3.4B, operating cash flow $1.7B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 33.4% | 32.3% | +1.1 pts |
| Net margin | 27.1% | 43.1% | -16.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $12.6B | $12.2B | $310M | +3% |
| Operating profit | $4.2B | $4.0B | $236M | +6% |
| Costs & expenses | $8.4B | $8.3B | $74.6M | +0.9% |
| Pre-tax earnings | $4.1B | $6.5B | −$2.5B | -38% |
| Other expense, net | $124M | −$2.6B | $2.7B | — |
| Cost of revenue | $6.0B | $5.9B | $149M | +3% |
| Research & development | $1.0B | $960M | $48.0M | +5% |
| Sales & marketing | $824M | $842M | −$18.4M | -2% |
| General & admin | $499M | $603M | −$104M | -17% |
| Net earnings | $3.4B | $5.3B | −$1.9B | -36% |
| Income tax | $667M | $1.3B | −$597M | -47% |
| Depreciation & amortization | $101M | $98.6M | $2.0M | +2% |
| Share-based compensation | $131M | $140M | −$9.1M | -6% |
| Working capital & other | $1.9B | $232M | $1.7B | +716% |
| Operating cash flow | $1.7B | $5.3B | −$3.5B | -67% |
Questions
How much did Netflix's revenue grow quarter over quarter in Q2 2026?
Netflix's revenue rose $310M (+3%) from $12.2B in Q1 2026 to $12.6B in Q2 2026. Operating margin 33.4% against 32.3% (+1.1 pts).